{"id":293299,"date":"2020-06-12T02:47:09","date_gmt":"2020-06-11T16:47:09","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/weekly-summary-a-bloodbath-in-the-stock-market\/"},"modified":"2021-02-19T12:13:44","modified_gmt":"2021-02-19T01:13:44","slug":"weekly-summary-a-bloodbath-in-the-stock-market","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/weekly-summaries\/weekly-summary-a-bloodbath-in-the-stock-market\/","title":{"rendered":"Weekly Summary:\u00a0A Bloodbath in the Stock Market"},"content":{"rendered":"<p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Governments and central banks supportive policies and coronavirus updates remain the primary factors that are driving risk sentiment in the financial markets. It was a Fed-centric week while fears of a second outbreak of coronavirus in the US crept into the markets towards the end of the week. <\/span><\/p>\n<h4><b>A Fed-Week<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Much attention was on the Fed\u2019s statement and forecasts for clues on how the Fed is viewing the health of the economy after easing lockdown measures and planning to continue to support the economy. Global central banks have played a crucial part in absorbing the pandemic-induced shocks in the global economy. Together with huge fiscal intervention, central banks have swiftly deployed various monetary tools to keep credit flowing and provide support to businesses and households.<\/span><\/p>\n<h5><b>Dot plots<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">On Wednesday, the Fed decided to maintain the target range for the federal funds rate at 0 to 0.25%. Most importantly, <\/span><a href=\"https:\/\/www.gomarkets.com\/au\/articles\/central-banks\/eyes-on-the-fed-and-the-dot-plots\/\"><span style=\"font-weight: 400;\">unlike the December dot plots<\/span><\/a><span style=\"font-weight: 400;\">, market participants took note that the US interest rates will stay near to zero through 2022, ruling out the probability of raising rates anytime soon and a V-shaped recovery for the US economy.<\/span><\/p>\n<p style=\"text-align: center;\"><i><span style=\"font-weight: 400;\">\u201cThe Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.\u201d<\/span><\/i><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247306 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/Feds-New-Do_12-June.jpg\" alt=\"\" width=\"606\" height=\"323\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Feds-New-Do_12-June.jpg 606w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Feds-New-Do_12-June-300x160.jpg 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Feds-New-Do_12-June-600x320.jpg 600w\" sizes=\"(max-width: 606px) 100vw, 606px\" \/><\/p>\n<h5><b>Economic Projections<\/b><\/h5>\n<ul>\n<li style=\"font-weight: 400;\"><b>Gross Domestic Product:<\/b><span style=\"font-weight: 400;\"> The Fed is expecting a contraction of 6.5% in 2020, followed by an expansion of 5% in 2021 and 3.5% in 2022.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Unemployment Rate:<\/b><span style=\"font-weight: 400;\"> The outlook for employment is also gloomy. After the US labour market experienced its worst monthly drop in history, the Fed is forecasting that the unemployment rate will reach a high of 9.3% by the end of 2020.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Inflation: <\/b><span style=\"font-weight: 400;\">The Fed sees anaemic inflation which will remain below the target rate of 2% for the next three years.<\/span><\/li>\n<\/ul>\n<h4><b>Stock Market &#8211; Virus Fears Return<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">After an impressive rally in the stock market over the last few weeks, global stocks retreated sharply. Ahead of the Fed\u2019s decision and forecasts, investors appeared to be taking a pause and booked profits. Towards the end of the week, a <\/span><a href=\"https:\/\/www.gomarkets.com\/au\/articles\/central-banks\/a-cautious-fed\/\"><span style=\"font-weight: 400;\">dovish-Fed<\/span><\/a><span style=\"font-weight: 400;\"> and virus fears have fueled the sell-off.<\/span><\/p>\n<p style=\"text-align: center;\"><b>A bloodbath in the stock market.\u00a0<\/b><\/p>\n<p><b>World Equity Indices\u00a0<\/b><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247291 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/World-Equity-Indices_12-June.jpg\" alt=\"\" width=\"707\" height=\"465\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/World-Equity-Indices_12-June.jpg 707w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/World-Equity-Indices_12-June-300x197.jpg 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/World-Equity-Indices_12-June-600x395.jpg 600w\" sizes=\"(max-width: 707px) 100vw, 707px\" \/><br \/>\nSource: Bloomberg<\/p>\n<h5><b>Wall Street<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">After flirting with high or record levels, major US equity benchmarks retreated sharply to the downside. Virus risks and the warning of a long road to recovery by the Fed have forced investors to reassess their stance in a surging stock market. The S&amp;P 500 posted its worst loss since March after three consecutive days of losses.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247276 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/Wallstreet_12-June.jpg\" alt=\"\" width=\"936\" height=\"571\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Wallstreet_12-June.jpg 936w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Wallstreet_12-June-300x183.jpg 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Wallstreet_12-June-768x469.jpg 768w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Wallstreet_12-June-600x366.jpg 600w\" sizes=\"(max-width: 936px) 100vw, 936px\" \/><\/p>\n<h5><b>European Bourses<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">European stocks also took a hit as investors pulled from riskier assets. However, it should be highlighted that stocks in the European market have outperformed its peers since mid-May driven by bold and long-awaited actions from the European Central Bank (ECB) and fiscal stimulus by governments. <\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247261 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/EU-Boarses_12-June.jpg\" alt=\"\" width=\"608\" height=\"368\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/EU-Boarses_12-June.jpg 608w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/EU-Boarses_12-June-300x182.jpg 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/EU-Boarses_12-June-600x363.jpg 600w\" sizes=\"(max-width: 608px) 100vw, 608px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The overall risk sentiment and confidence in Europe was more upbeat compared to the US and Asian markets despite European countries are likely to be among the worst-hit this year. The scenario of double-digit GDP contraction for certain European countries is not ruled out.\u00a0 <\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247336 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/EU-Boarses-Confidence_12-June.jpg\" alt=\"\" width=\"547\" height=\"346\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/EU-Boarses-Confidence_12-June.jpg 547w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/EU-Boarses-Confidence_12-June-300x190.jpg 300w\" sizes=\"(max-width: 547px) 100vw, 547px\" \/><\/p>\n<h5><b>Australian Share Market<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The Australian share market traded mostly on the back foot this week and suffered two consecutive days of heavy losses towards the end of the week. Almost all sectors are trading in negative territory for the week with the financial and energy index deep in the red.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247246 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/AU-Share-Market_12-June.jpg\" alt=\"\" width=\"576\" height=\"289\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/AU-Share-Market_12-June.jpg 576w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/AU-Share-Market_12-June-300x151.jpg 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><br \/>\nSource: Bloomberg Terminal<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">As of writing, the share price of major banks has tumbled between 8%-11% so far for the week. Gold-related stocks were among the best performers of the week as investors sought safety with haven-related assets.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247231 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/AU-Share-Market-2_12-June.jpg\" alt=\"\" width=\"676\" height=\"450\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/AU-Share-Market-2_12-June.jpg 676w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/AU-Share-Market-2_12-June-300x200.jpg 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/AU-Share-Market-2_12-June-600x399.jpg 600w\" sizes=\"(max-width: 676px) 100vw, 676px\" \/><br \/>\nSource: Bloomberg Terminal<\/p>\n<h4><b>Oil Market<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The oil market took a hit this week amid bearish oil reports, the overall risk-off sentiment, warnings from the Fed, virus fears and the broad sell-off in the equity markets. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Both the <\/span><a href=\"https:\/\/www.gomarkets.com\/au\/daily-news\/overnight-on-wall-street-10-june-20\/\"><span style=\"font-weight: 400;\">API<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.gomarkets.com\/au\/daily-news\/overnight-on-wall-street-thursday-11-june-2020\/\"><span style=\"font-weight: 400;\">EIA<\/span><\/a><span style=\"font-weight: 400;\"> reported an increase in crude oil inventories showing that demand remains soft. The fears of a second wave of outbreaks are also dampening the expectations of higher demand if certain states are forced to reinstate lockdown measures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of writing, WTI Crude oil (Nymex) and Brent Crude (ICE) are trading lower at $35.18 and $37.63, respectively. <\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-247216 size-full\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/06\/Oil_12-June.jpg\" alt=\"\" width=\"538\" height=\"321\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Oil_12-June.jpg 538w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2020\/06\/Oil_12-June-300x179.jpg 300w\" sizes=\"(max-width: 538px) 100vw, 538px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong>By Deepta Bolaky<\/strong><br \/>\n<img style=\"float: left; width: 20px; padding-top: 4px;\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2018\/08\/twitter.png\" \/>\u00a0<a href=\"https:\/\/twitter.com\/DeeptaGOMarkets\">@DeeptaGOMarkets<\/a><\/p>\n<h4><strong>Key upcoming events<\/strong><\/h4>\n<ul>\n<li><span style=\"font-weight: 400;\">Westpac Consumer Survey and Business NZ PMI (New Zealand)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Industrial Production (Japan)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Foreign Direct Investment (China)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Manufacturing &amp; Industrial Production and\u00a0 GDP (UK)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">EcoFin Meeting and Industrial Production (Eurozone)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Michigan Consumer Sentiment Index (US)<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"7\"><strong>Monday, 15 June 2020<br \/>\n<\/strong>Indicative Index Dividends<br \/>\n<em><sup>Dividends are in Points<\/sup><\/em><\/td>\n<\/tr>\n<tr>\n<td width=\"100\"><strong>ASX200<\/strong><\/td>\n<td width=\"100\"><strong>WS30<\/strong><\/td>\n<td width=\"100\"><strong>US500<\/strong><\/td>\n<td width=\"100\"><strong>US2000<\/strong><\/td>\n<td width=\"100\"><strong>NDX100<\/strong><\/td>\n<td width=\"100\"><strong>CAC40<\/strong><\/td>\n<td width=\"100\"><strong>STOXX50<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0.109<\/td>\n<td width=\"100\">0.115<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<\/tr>\n<tr>\n<td width=\"100\"><strong>ESP35<\/strong><\/td>\n<td width=\"100\"><strong>ITA40<\/strong><\/td>\n<td width=\"100\"><strong>FTSE100<\/strong><\/td>\n<td width=\"100\"><strong>DAX30<\/strong><\/td>\n<td width=\"100\"><strong>HK50<\/strong><\/td>\n<td width=\"100\"><strong>JP225<\/strong><\/td>\n<td width=\"100\"><strong>INDIA50<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"100\">0<\/td>\n<td width=\"100\">1.397<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<td width=\"100\">0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em>Disclaimer: Articles and videos from GO Markets analysts are based on their independent analysis. Views expressed are of their own and of a \u2018general\u2019 nature. Advice (if any) are not based on the reader\u2019s personal objectives, financial situation or needs. \u00a0Readers should, therefore, consider how appropriate the advice (if any) is to their objectives, financial situation and needs, before acting on the advice. For more information on trading, check out our <a href=\"\/forex-education-courses\/\">CFD trading courses<\/a>.<\/em><\/p>\n<p><a href=\"https:\/\/www.gomarkets.com\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Deepta Bolaky \u00a0@DeeptaGOMarkets Governments and central banks supportive policies and coronavirus updates remain the primary factors that are driving risk sentiment in the financial markets. It was a Fed-centric week while fears of a second outbreak of coronavirus in the US crept into the markets towards the end of the week. A Fed-Week Much [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[128],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Summary:\u00a0A Bloodbath in the Stock Market - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/weekly-summaries\/weekly-summary-a-bloodbath-in-the-stock-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Summary:\u00a0A Bloodbath in the Stock Market - GO Markets\" \/>\n<meta property=\"og:description\" content=\"By Deepta Bolaky \u00a0@DeeptaGOMarkets Governments and central banks supportive policies and coronavirus updates remain the primary factors that are driving risk sentiment in the financial markets. 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It was a Fed-centric week while fears of a second outbreak of coronavirus in the US crept into the markets towards the end of the week. 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