“If you’re in individual stocks and they can grow even in tough times, then you should be in much better shape than the index-fund investors, who are really stuck holding the bad with the good,” he said.
According to Hogan, there are too many unprecedented factors, including an intentional decision to freeze the economy, to suggest the market will follow a preset course based on historical trends.
Siemens Gamesa Renewable Energy is the latest wind turbine firm to suspend guidance.
The impact of the pandemic on the renewable energy sector is widespread.
Last week, the IRS began issuing stimulus payments to Americans. Individuals are eligible for $1,200, while married joint filers could collect $2,400. Households are entitled to $500 per qualifying child.
More than 200 public companies applied for at least $854.7 million from the government program that was billed as emergency funding for small businesses without access to other sources of capital, according to data analytics firm FactSquared.
Apple lost $100 billion in value on Monday, while Microsoft’s market cap plunged by $83.6 billion
The broader market had its worst day since the 2008 financial crisis, because of concerns about coronavirus and plunging oil prices.
Tesla dropped 14%.
Netflix reported its Q1 2020 earnings after the bell on Tuesday.
The company showed a huge uptick in new subscribers, which it attributed to people staying at home due to the coronavirus pandemic.
CEO Reed Hastings also praised rival Disney’s execution in launching its new streaming service, Disney+, last fall.
The latest efforts stoke renewed concern about how the company, which makes the majority of its money from targeted advertising, can get masses to trust it with their health information.
Boeing fell more than 6% to lead the Dow lower while Chevron and Exxon Mobil dropped more than 4% each. Energy, real estate and utilities were the worst-performing sectors in the S&P 500, falling more than 3% each.
Russia tested an anti-satellite missile that is capable of destroying satellites in low Earth orbit, U.S. Space Command said on Wednesday.
The Pentagon said it is tracking the test.
“Yet another example that the threats to U.S. and allied space systems are real, serious and growing,” Gen. John Raymond, commander of U.S. Space Command, said in a statement.
