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Stocks produced their second week of gains in the face of the coronavirus which has yet to be contained; but investors seem confident it will be. Stock prices jumped to higher highs this week but the day to day action was choppy and inconsistent. Poor opens turned into rallies and strong opens faded, but the net result were gains over 1% in the U.S. stock indices. Jerome Powell couldn't reassure investors about the projected impact of the coronavirus or the Fed's course of action in response. It ...

So much for a turnaround Tuesday. The negative reversal on Tuesday had created a fairly negative set up for Wednesday, but the market wanted no part of a pullback and we saw stocks rally solidly from start to finish yesterday, and the big three indices all closed at new highs. The Dow gained a healthy 275-points and the S&P 500 and Nasdaq have now been up for 7 of the last 8 days.

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Stocks opened sharply lower on Thursday morning as the overnight futures and opening bell emotional trading sent the indices reeling early, only to be bought up right away by the dip buyers or trading programs, or both, but the bears were able to put on just enough pressure to keep the indices slightly negative by the close. The Dow lost 128-points and was the laggard, while small caps led, holding onto some modest gains.

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Stocks rallied early then faded a bit on Tuesday partly because of the Fed in Washington. The indices did close mostly higher, although the Dow was flat, but it was a negative reversal day and that could indicate some short-term issues for the market.

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Stocks opened lower on Monday, but the day's lows were basically that opening tick, and it was mostly a trek north for the rest of the day. With the weekend coronavirus nerves out of the way, and perhaps a strong jobs report buying lag, the Dow gained back 174-points of Friday's 277-point decline, while the S&P 500 and Nasdaq handily surpassed Friday's losses.

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