The CBOE VIX Index closed at 75.5 today, the 4th highest close ever. In every instance from this/similar levels, the S&P 500 rallied by +10% immediately thereafter & over just 1 or 2 days

GOLDMAN: sets new mid-year S&P 500 target of 2450, “(15% below the current level and 28% below the market peak.)”

Business is starting to operate ‘as usual’:

1. 38 out of 42 AAPL stores in mainland China have now reopened as of today
2. BABA’s parcel and meal delivery arms have returned to pre-Coronavirus outbreak staffing levels
3. President Xi Jinping of China made his first visit to Wuhan, arguably a strong ‘signal’ that Beijing believes the worst of the…[Read more]

This is not nearly good enough. WH: Pence is holding a noon video teleconference with governors from the situation room, 4pm task force meeting, 5:30 press briefing

Wells Fargo: Our short-term outlook (through June 2020)

We are now seeing the third wave of the coronavirus. The first wave was in China’s Hunan province, which remains the epicenter of the disease. The second wave was broader China. The third wave is around the world, focused primarily in Europe, the Middle East, and South Asia.
The p…[Read more]

China’s top health authority expects coronavirus vaccines to be available for emergency and clinical research use in April. National Health Commission said teams pursuing five approaches. Cautioned about obstacles.