Stock Market Bounces At Support，Downtrend Not changed 股市在支撑处反弹，下降趋势未变

After two sessions of sharp declines, major US stock indexes slumped at the open, they then bounced strongly after they found technical supports.  Dow at one point was down  457 and is now gaining over 180 points.  S&P 500 is up slightly while the Nasdaq Composite is still down. Today's market drags are the FAANMG (FB, AAPL, AMZN, NFLX, MSFT and GOOG) stocks. After a tremendous up move during the past 1 1/2 months , it is their turn to be weak. What brought about this morning's sour mood on the stock market are that US/ China tension increases as President Donald Trump is “looking at” Chinese companies that trade on American exchanges but don't follow U.S. accounting rules, he also said  right now he doesn't want to speak to the Chinese president Xi. In addition weekly jobless claims rose by 2.98 million last  week ,  bring total claims to nearly 36.5 million over the past two months, by far the biggest loss in U.S. history. Hopes of a quick economic recovery were dashed following sobering comments from Federal Reserve Chairman Jerome Powell and leading U.S. infectious disease expert Anthony Fauci warned on opening the country too early yesterday. Technically, the S&P 500  found support at 2727.  The Nasdaq bounced off its 100 DMA support at 8696. As for the Dow, it reached its first downside target at 22280 and is bouncing. After dropping 6% from 3 day high to low, the S&p 500 found support and bounced. It may get push back at resistance at 2855. The overall market has finished its strong bounce and has started to come back down,  the downtrend will continue after a brief bounce. The Dow, S&P 500 and Nasdaq will then proceed to go towards their downside targets at 21504, 2574 and 7940 respectively.

。Initial Jobless Claims: -195K to 2.981M vs. +2.5M consensus, 3.176M prior (revised from 3.169M). Total job losses over the past seven weeks are now over 36M, or more than 20% of the U.S. workforce. ---Seeking Alpha

。President Donald Trump said he has a good relationship with Chinese President Xi Jinping, but "right now I just don't want to speak to him." In a Fox Business Network interview, Trump said he's "very disappointed" with China, continuing criticism of Beijing's response to the coronavirus pandemic. "They could have stopped it," he told the network. He also said he was "looking at" Chinese companies that trade on U.S. stock exchanges but don't follow U.S. accounting rules.
---Market Watch

President Donald Trump threatened on Thursday to impose new taxes on American companies that produce goods outside the United States, another move his administration could make to push supply chains away from China and raise new trade barriers. ---Reuters

。Goldman Sachs economists now see the unemployment rate peaking at 25% vs. their previous view of 15% then subsiding to ~10% at the end of the year. The new forecast also sees a quicker recovery, with a 29% gain in Q3, reflecting more of a "V-shaped" recovery. They also revised their Q2 GDP forecast to a decline of 39% vs. 34% earlier. ---Seeking Alpha

。Market forces have "demonstrated their power" in recent weeks, according to the IEA, but a resurgence of coronavirus cases will have "major consequences." In its closely-watched monthly report, crude demand showed a fall of 8.6M bpd to 91.2M for 2020, while on the supply side, it expected a "spectacular" fall of 12M bpd this month, falling to a nine-year low of 88M. Executive Director Fatih Birol said it will take more than a year, and perhaps several, for oil demand to recover to what it was before the coronavirus pandemic. ---Wall street Breakfast

。The new coronavirus may never go away and may just join the mix of viruses that kill people around the world every year, Dr. Mike Ryan, executive director of the World Health Organization health emergencies program, said Wednesday. ---CNN





在连续两个交易日大幅下跌之后，美国主要股指开盘暴跌，然后在获得技术支撑后强劲反弹。 道琼斯指数曾下跌457点，目前涨幅超过180点。 标普500指数则小幅上涨，纳斯达克综合指数仍在下跌。 今天的市场的拖累是FAANMG（FB，AAPL，AMZN，NFLX，MSFT和GOOG）股票。 在过去的1 1/2个月中大幅上涨之后，现在轮到他们变得疲软。今天早上在股市上造成市场糟糕情绪的原因是唐纳德·特朗普总统正在“观察”在美国交易所进行交易而不遵守美国会计准则的中国公司，他还说，因为中国对病毒反应的不当他现在不想与中国人领导人习主席说话而导致中美关系紧张。此外，上周申请失业救济人数增加298万，在过去两个月中，总数达到近3650万人失业，为美国历史上最多的领失业人数。昨日，美联储主席杰罗姆·鲍威尔（Jerome Powell）对经济严峻的评论，和美国主要传染病专家安东尼·富奇（Anthony Fauci）警告称过早开放的不良后果，使人们对经济快速复苏的希望破灭。技术上，今天标准普尔500指数在2727处获得支撑，纳斯达克从8696的100 日均线支撑处反弹，至于道指，它在22280处达到其第一个下行目标也正在反弹。 标普500指数从3天高点到低点下跌6％后，今日获得支撑而反弹是正常的。 它可能会在2855的阻力位处被阻。整个市场已经完成了一个半月的强劲反弹并已开始了回落，短暂的反弹之后会继续下跌趋。 道琼斯指数，标准普尔500指数和纳斯达克指数随后将分别跌向21504、2574和7940的下行目标。

。上周初请失业金人数：-195K至2.981M，而共识为+ 2.5M，之前为3.176M（从3.169M修正）。 过去七周的总失业人数现在超过3600万，占美国劳动力的20％以上。 ---Seeking alpha

。唐纳德·特朗普总统说，他与中国国家主席习近平有着良好的关系，但“现在我只是不想和他说话。”特朗普在福克斯商业网络的一次采访中说，他对中国“非常失望”，继续批评北京对冠状病毒大流行的反应。他对商业网络表示：“他们本可以阻止它。”他还说，他正在“看”在美国证券交易所交易但不遵守美国会计准则的中国公司。---Market Watch

。唐纳德·特朗普总统周四威胁要对在美国以外生产商品的美国公司征收新税，他的政府可能采取的另一举措是将供应链推离中国，并增加新的贸易壁垒。 ---路透社

。高盛（Goldman Sachs）经济学家现在估计失业率会达到25％的峰值，而之前的预期是15％，然后在年底降至约10％。新的预测还显示复苏更快，第三季度增长29％，反映出更多的“ V形”复苏。他们还修改了第二季度GDP预测，从之前的34％降至39％。 ---Seeking Alpha

。据国际能源署称，市场力量在最近几周“展示了自己的力量”，但冠状病毒案件的复燃将产生“重大后果”。在其备受关注的月度报告中，原油需求显示2020年下降860万桶/日至9120万桶，而在供应方面，预计本月“壮观”的下降1200万桶/日，降至9年低点 88M。执行董事法提赫·比罗尔（Fatih Birol）表示，要恢复到冠状病毒大流行之前的石油需求水平，将需要一年多甚至几年的时间。 ---Wall Street Breakfast

。世界卫生组织紧急卫生计划执行主任迈克·瑞安博士说，这种新的冠状病毒可能永远不会消失，而可能每年都与导致死亡的其他世界病毒混合在一起。 ---CNN