Congress Passes First Of Coronavirus Aid Packages

Plus New Zacks Strong Buys for Thursday, March 19 [Kevin Matras] Profit from the Pros By Kevin Matras Executive Vice President [Zacks Investment Research] Congress Passes First Of Coronavirus Aid Packages Stocks closed down yesterday, but well off of their intraday lows. Nonetheless, the bear market deepened. At its worst the Dow was down -35.98%, the S&P was down by -32.29%, and the Nasdaq was down by -31.61%. Although, by the close, they were 'only' down by -32.66%, -28.80%, and -28.51% respectively. For context, the top 10 worst bear markets (using the Dow) following the Great Depression, shows that it declines on average by -39.27%. And it lasts on average of 16.9 months. So we were not that far from the average. But the rallies that followed have been even bigger. Within a year after a bear market, stocks surge on average of 44.74%. And go on to gain on average 66.34% by year 3. After the close, the Senate passed the House's $8.3 billion relief bill meant to fortify the health care system in preparation for the increased number of patients that are expected. The Senate said they were close to another bill that was aimed at businesses and workers hardest hit by the coronavirus and subsequent social distancing. There's also work on a third bill that could top $1 trillion dollars, which includes cash payments to individuals who are temporarily out of work due to their place of employment having closed down during this crisis. In other news, it was reported that the New York Stock Exchange (NYSE) trading floor will close after Friday's session and go fully electronic come Monday. After reports that two traders tested positive for the virus, they too will enact a strict social distancing policy by literally closing the floor. But trading should not be disrupted. The extreme measures the U.S. is taking has wreaked havoc on the U.S. economy and the daily routines of virtually every American. But the measures taken now, and for the next few weeks, should help to slow (hopefully dramatically so) the spread of the virus until we can learn more about how to treat it and ultimately prevent it. Fortunately, our economy was in great shape prior to this. And it's widely believed that once the worst is behind us, the economy and stocks should soar as pent-up economic demand is unleashed. But that doesn't mean you have to wait to start nibbling at your favorite stocks and their bargain prices. Some may go lower. And some may not. But they are likely much lower now than where they were just a few short weeks ago. And they will likely be much higher when this is all over. That's true for your favorite stocks. As well as plenty of new stocks that you haven't even heard of yet. Because this virus outbreak, and the upheavals it's brought about for businesses and consumers, will usher in lots of new and exciting opportunities in the inevitable bull market that follows. So start putting your list of dream stocks together. And stay engaged so you can discover what new stocks will lead the market when it goes back up. Moreover, don't squander this time with preventable mistakes. If you wished you would've traded past pullbacks or bear markets better, now is your chance. And since a large part of any recovery typically comes at the very beginning, there's never been a better time to prepare than now. So be sure to read my latest commentary... [The Countdown To The Recovery Has Begun]( Best, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Trade Alert - 6 Tech Stocks That Could Double]( I've uncovered six must-own tech stocks about to put old school Silicon Valley names to shame. They are located from Boston to Israel to Beijing. They cover a wide-range of businesses including cybersecurity to 5G telecommunications to cashless payments. And they are backed up by REAL profits. [Find out their names now -- FREE!]( Most Popular Articles from Zacks.com [Pfizer, Regeneron Give Update on Coronavirus Drug Development]( On Tuesday, two big drug/biotech companies, Pfizer and Regeneron, made announcements related to their coronavirus drug development efforts. [Read More »]( [GOOGL, MSFT & Others to Watch in Fight Against Coronavirus]( The demand for technically advanced ways to efficiently manage the virus has put the spotlight on the technology sector. [Read More »]( [Hopes of a COVID-19 Vaccine Buoy Drug Makers: 3 Solid Buys]( Shares of vaccine manufacturers have gained sharply on concerns over the virus. [Read More »]( [5 Recession-Resistant Tech Stocks to Buy Amid Coronavirus Scare]( The sector remains attractive owing to rapid adoption of cloud computing, and ongoing integration of AI and machine learning (ML). 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