Stock market news live: Stock futures up; Wall Street rushes to declare global coronavirus recession [Yahoo! Finance News]
LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests (LB)
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Source: Yahoo! Finance News
Stocks rose Tuesday morning, offering some respite from selling after Monday’s declines sent the Dow off by its largest percentage drop since Black Monday of 1987. [Read more: jitters send Dow swooning to worst-ever point loss, closes at near 3-year low ] In the U.S., President Donald Trump offered a grimmer assessment of the coronavirus outbreak during a press conference Monday afternoon, acknowledging that the U.S. “may be” heading toward a recession, after which he predicted growth would rebound strongly. He also said that the coronavirus outbreak and response measures from the U.S. could last until August. Based on the stock market’s historically steep declines over the past few weeks, market participants have already priced in a recession, according to Fundstrat Head of Research Tom Lee. “Over the past month, equity markets and financial assets broadly, have been attempting to price in the dual shock of a pandemic and the sudden collapse in oil prices which is viewed by markets
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