From limit-down into the green
US futures are bouncing back strongly after the Fed went all in on Monday, announcing unlimited, open-ended QE among numerous other measures to support the economy and markets.
We’ve gone from limit-down into the green and could soon be limit-up, all before the opening bell on Wall Street. Safe to say, the chaos of the last few weeks is going nowhere and the way this week has started, it could feasibly be the most remarkable week of the lot.
There’s no doubting that the Fed is doing everything within its power to see the economy through this period of unbelievable turmoil. The coronavirus has wreaked havoc global and ground the economy to a halt forcing drastic action from the fiscal and monetary authorities. It’s time for Congress to get its act together as well.