Futures are limit up this morning. The overseas markets are green and many are up over 5%.
The Fed has agreed to support the economy in an unlimited fashion and though congress has taken longer than many hoped, they will likely soon pass a stimulus bill for Americans and businesses. China announced easing their lockdown in the Hubei Province with Wuhan to follow in April, Italy has seen a dip in cases and President Trump says he intends to reopen the country in weeks, not months.
The situation with IPOs remains the same irrespective of the bulls taking over today. We have some IPO events this morning but the key is to find IPOs that are likely to benefit from the COVID19 crisis such as CHWY. They deliver pet food and supplies and they have earnings coming up in early April.
IPO on the watch list today: ARQT, KLDO, BNTX, STSA, NTGN, VIR, MRNA.
All of this has the SPY at almost 235 this morning, up almost 12 points from yesterday.