4B ❚ WEDNESDAY, MARCH 18, 2020 ❚ USA TODAY MONEY
AMERICA’S MARKETS
ALL THE MARKET ACTION IN REAL TIME
MARKETS.USATODAY.COMMARKET PERFORMANCE BY SECTOR
Sector Close Chg. 4wk^1 YTD^1
COMMODITIES
Commodities Close Prev. Chg. % Chg. % Y TDTOP 10 EXCHANGE TRADED FUNDS
ETF, ranked by volume Ticker Close Chg. % Chg %Y TDFOREIGN CURRENCIES
Currency per dollar Close Prev. 6 mo. ago Yr. agoFOREIGN MARKETS
Countr y Close Prev. Change %Chg. %Y TDConsumer staples 57.22 +4.45 -11.4% -9.1%
Utilities 57.66 +6.54 -18.8% -10.8%
Health care 86.85 +5.13 -16.1% -14.7%
Te ch n o l o g y 7 7.5 0 +4. 9 4 -23.7% -15.5%
Telecom 49.79 +2.37 -23.0% -18.9%
Consumer discret. 92.78 +3.44 -29.5% -26.0%
Industrials 58.37 +2.57 -30.6% -28.4%
Materials 43.95 +2.56 -27.2% -28.4%
Financials 20.97 +1.08 -32.1% -31.9%
Energy 28.00 +0.19 -48.3% -53.4%
SPDR S&P500 ETF Tr SPY 252.80 +12.95 +5.4% -21.5%
SPDR Financial XLF 20.97 +1.08 +5.4% -31.9%
Invesco QQQ Trust QQQ 182.14 +12.84 +7.6% -14.3%
VanE Vect Gld Miners GDX 25.50 +3.01 +13.4% -12.9%
Citigp Vel Long Crde UWT 0.64 -0.16 -19.9% -95.5%
ProShs UltPro ShtQQQ SQQQ 25.08 -5.61 -18.3% +12.0%
ProShs UltraPro QQQ TQQQ 43.32 +6.07 +16.3% -49.9%
iShs Emerg Mkts EEM 33.81 +2.18 +6.9% -24.6%
US Oil Fund LP USO 5.71 -0.34 -5.6% -55.4%
iShs iBoxx HY CpBd HYG 76.36 +0.71 +0.9% -13.2%Cattle (lb.) .96 .92 +0.04 +4.9% -22.7%
Corn (bushel) 3.44 3.55 -0.11 -3.0% -11.3%
Gold (troy oz.) 1,524.90 1,485.90 +39.00 +2.6% +0.4%
Hogs, lean (lb.) .58 .54 +0.04 +8.3% -18.1%
Natural Gas (Btu.) 1.73 1.82 - 0.09 -4.7% -21.0%
Oil, heating (gal.) 1.04 1.05 -0.01 -1.0% -48.9%
Oil, lt. swt. crude (bar.) 26.95 28.70 -1.75 -6.1% -55.9%
Silver (troy oz.) 12.47 12.77 - 0.30 -2.4% -30.1%
Soybeans (bushel) 8.24 8.22 +0.02 +0.3% -12.6%
Wheat (bushel) 4.99 4.98 +0.01 +0.3% -10.7%British pound .8268 .8173 .7998.
Canadian dollar 1.4228 1.3984 1.3251 1.
C h i n e s e y u a n 7. 0 0 7 2 6. 9 9 3 8 7. 0 917 6 .713 4
Euro .9091 .8954 .9037.
Japanese yen 107.85 106.13 108.20 111.
Mexican peso 23.0266 22.8454 19.3782 19.Frankfurt 8,939.10 8,742.25 +196.85 +2.3% -32.5%
Hong Kong 23,263.73 23,063.57 +200.16 +0.9% -17.5%
Japan (Nikkei) 17,011.53 17,0 02.0 4 +9.49 +0.1% -28.1%
London 5,294.90 5,151.08 +143.82 +2.8% -29.8%
Mexico City ... ...% -12.5%DOW JONES INDUSTRIAL AVERAGE
SOURCE Morningstar, Dow Jones Indexes, The Associated PressS&P 500’S BIGGEST GAINERS
Company (ticker) Price $ Chg. % Chg. Y TD
Dow Inc (DOW) 26.60 +4.60 +20.9 -51.
LyondellBasell Ind (LYB) 41.72 +6.82 +19.5 -55.
Southern Co (SO) 56.56 +8.94 +18.8 -11.
Peoples Utd Fncl (PBCT) 13.99 +2.16 +18.3 -17.
C o n E d i s o n ( E D) 9 3. 8 8 +14. 3 3 +18. 0 +3. 8
S&P 500’S BIGGEST LOSERS
Company (ticker) Price $ Chg. % Chg. Y TD
Noble Energy Inc (NBL) 4.19 -1.04 -19.9 -83.
A p a c h e C o r p ( A PA ) 4. 4 6 -1. 0 0 -18. 3 - 8 2.
Capri Holdings Ltd (CPRI) 8.15 -1.51 -15.6 -78.
Darden Rest (DRI) 41.93 -7.28 -14.8 -61.
Devon Energy (DVN) 6.46 -1.11 -14.7 -75.MARKET NOTEBOOK
Issues NYSE NASDAQ
Advancing 1,
Declining 1,
Unchanged 26
Tot a l 2 ,74 52,
1,
88
3,
Issues at^10
New 52 Week High 9
New 52 Week Low 1,1,
Share Volume
Advancing 5,264,775,
Declining 2,674,202,
Unchanged 144,138,3,321,105,
1,359,840,
71,060,Total 8,083,117,085 4,752,006,+1048.
Closing: 21,237.
Change: +5.2%
YTD % Chg: -25.6%S&P 500 • STANDARD & POOR’S+143.
Closing: 2,529.
Change: +6.0%
YTD % Chg: -21.7%NASDAQ COMPOSITE+430.
Closing: 7,334.
Change: +6.2%
YTD % Chg: -18.3%RUSSELL 2000+69.
Closing: 1,106.
Change: +6.7%
YTD % Chg: -33.7%The Federal Reserve said Tuesday it’s
reviving a crisis-era source of funding
for businesses that need short-term
loans to cover operating expenses as the
coronavirus strains financial markets.
The commercial paper market is
made up of loans many companies use
to make payroll, buy inventories and
keep their businesses running day to
day. Commercial paper affects consum-
ers because mortgage and auto loan pro-
viders also use the market to finance
those loans.
When the economy is wobbly, as it is
now, money market funds and other
lenders demand a high interest rate to
hold commercial paper, shorten the term
of the loan to overnight or simply avoid
making the loan. That could increase
companies’ borrowing costs or force
them to seek loans from banks. But
banks themselves may be under stress
because vulnerable companies may be
unable to repay their loans.
The Fed is effectively stepping in as a
lender of last resort for the commercial
paper market, announcing that it will
buy the assets directly.
“An improved commercial paper mar-
ket will enhance the ability of business-
es to maintain employment and invest-ment as the nation deals with the coro-
navirus outbreak,” the Fed said in a
news release.
During the 2008 financial crisis, the
Fed provided $350 billion in such loans
to corporations.
Creating a commercial paper facility
is the latest step the Fed has taken in
response to the pandemic’s economic
impact. On Sunday, the Fed cut its
benchmark short-term interest rate by
a full percentage point to near zero and
relaunched massive bond purchases to
pump cash into the banking system
and push down long-term rates. It also
took other steps to encourage loans to
households and businesses.Fed revives crisis-era business funding source
Paul Davidson
USA TODAY
U.S. stocks rebounded Tuesday after
the White House laid out additional
plans to help cushion the economy from
the coronavirus pandemic.
President Donald Trump and Trea-
sury Secretary Steve Mnuchin said they
are exploring the idea of legislation that
would include sending checks to Amer-
icans to help them manage through the
economic impact of the virus disrup-
tions.
The gains follow the market’s worst
sell-off in more than three decades on
Monday.
The Dow Jones industrial average
climbed 1,048.86 points to close at
21,237.38. The Standard & Poor’s 500
rose 6% to finish at 2,529.19. Both aver-
ages had their worst day since the
“Black Monday” stock market crash of
1987 the prior day.
Monday’s 12% drop for the S&P 500
came as voices from Wall Street and the
White House warned the coronavirus
may drag the economy into a recession.
Stocks also got a boost after the Fed-
eral Reserve said it’s reviving a crisis-
era source of funding for businesses
that need short-term loans, a move
aimed to counter the economic impact
of the virus.
Stock futures stabilized Monday eve-
ning following news that the Trump ad-
ministration plans financial support for
airlines stricken by the outbreak and is
pushing the Senate to enact a massive
stimulus package to alleviate losses for
businesses and individuals affected by
the outbreak, which has infected more
than 180,000 people worldwide.
The U.S. death toll hit 97, and there
are more than 5,700 confirmed cases,
according to the Johns Hopkins Univer-
sity data dashboard.
“There are monetary and fiscal poli-
cies that are being put in place to try to
ease financial market concerns, but this
is ultimately a health issue,” says Tom
Myers, CEO and managing partner at
Bordeaux Wealth Advisors. “We’re go-
ing to need to see data that shows the
severity of this virus situation is abating
and getting better. Markets are assum-
ing the worst right now.”
The S&P 500 has shed 25% since set-
ting a record less than a month ago, and
it’s at its lowest point since the end of- Monday’s precipitous losses ac-
celerated in the last half hour of trad-
ing after Trump said the economy may
be headed for a recession and asked
Americans to avoid gatherings of more
than 10 people.
The plunge came even though the
Federal Reserve on Sunday rushed to
announce a new round of emergency
actions before financial markets
opened for the week.
Layoffs from coronavirus
almost certain“There’s a lack of demand across so
many industries, it’s almost certain
that there will be layoffs throughout
the economy,” says Stephen Guilfoyle,
founder and president of Sarge
LLC, a family-run trading operation.
In European trading, the CAC 40 in
Paris rose 2.8% after the government
announced $50 billion in aid for indi-
viduals and businesses. Germany’s
DAX rose 2.3%. Britain’s FTSE 100
added 2.8%.
In Asia, the Nikkei 225 in Tokyo was
virtually unchanged, while Hong
Kong’s benchmark jumped 0.9%. The
Shanghai Composite index dipped
0.3%.New York Stock Exchange traders listen to President Donald Trump’s White House news conference. MARK LENNIHAN/AP
Dow soars over 1,000 points as
economic stimulus takes shape
Experts still predicting
widespread layoffs
Jessica Menton
USA TODAY
At a time when social distancing is
the norm, food-delivery app couriers
face a dilemma: How to stay safe dur-
ing the coronavirus pandemic, while
still generating income?
As of March 17, customers can still
order food through such apps as Door-
Dash, Postmates and Uber Eats. But
sometimes the trips aren’t worth it to
the courier.
“Sometimes you drive four miles for
$4. Or eight miles for $5,” said Weston
Maher, 33, who works for UberEats
and DoorDash. “I think it should be
salaried.”
Maher’s sentiment was echoed by
Jim O’Connell, 50, who also works for
DoorDash and Uber Eats. “Sometimes
the pay doesn’t coincide with the dis-
tance.” He added that these past few
days have been “slower” with fewer or-
ders, but the people he is delivering to
are very grateful for his service.
O’Connell, whose ex-wife and son
are currently quarantined, also under-
stands when people request “contact-
less” deliveries. “It’s different when it
hits home.”
With fewer orders coming, tips from
customers become much more rele-
vant for couriers. Maher said that with
more companies having employees
work from home, those corporate or-
ders have declined.
DoorDash, Postmates and Uber
Eats understand the risk couriers are
facing by interacting with customers
during their shifts and the strain that
social distancing places on their part-
ner restaurants, and they have imple-
mented different policies to address
both.DoorDash’s being proactiveThe San Francisco-based company
is maintaining regular delivery rates
for their couriers, and has started an
assistance program for couriers who
have been quarantined or diagnosed
with COVID-19.
“This program will provide up to
two weeks of (financial) assistance to
Dashers and Caviar couriers who are
diagnosed with COVID-19 or who are
subject to quarantine at the direction
of public health officials,” said Door-
Dash to USA TODAY.Postmates launches relief fundPostmates confirmed that is also
maintaining regular rates for couriers.
With the launch of the Postmates
Fleet Relief Fund, the company in-
tends to cover the costs of co-pays or
medical expenses related to COVID-19,
regardless of diagnosis. “In the event a
fleet member tests positive for Co-
vid-19, the fund can be used to cover
2-weeks paid sick leave,” the company
said in a blog post. Contactless deliv-
ery is also an option for Postmates.Uber Eats focus on local businessUber Eats is offering financial assis-
tance for up to 14 days to couriers and
drivers. The aid will be based “on your
average daily earnings over the last six
months,” the company said.Food
delivery
couriers
to get aid
Workers watch their
health and bottom line
Josh Rivera
USA TODAY