Dow Industrial Average’s largest intraday rise ever! What is today's stock price? "Key points and event schedule for March 25"

The Dow Jones Industrial Average rose by +2112 dollars, marking the largest intraday gain in history, and Nikkei futures also recovered past 19,000 yen.

Gold prices rose as well, and the market rapidly began a risk-off unwind.

The 200 trillion yen economic stimulus, cooled by the coronavirus, is expected to be approved by both houses in the U.S., which is driving stock prices higher.

In Japan, it seems the postponement of the Tokyo Olympics has been priced in or was not widely watched, as stock prices showed no reaction.

This removes one factor weighing on stock prices.

◎ Today's Highlights

1) Risk-off unwinding

Gold prices rose, stocks rebounded sharply, and the VIX index has fallen quite a bit.

There is a possibility that the sharp stock declines caused by risk-off are beginning to unwind.

If we view it as a unwind of the previous trend, stocks may rise, commodity currencies may be bought, and the yen and Swiss franc may be sold.

Since the coronavirus, which caused the risk-off, has not fully cooled, I do not expect a full retracement.

It will be interesting to see how far the unwinding goes.

2) Economic indicators and reactions

Recently, the market focus has been on the coronavirus, and reactions to economic indicators have become muted.

As risk-off retreats and the market regains its calm, attention to economic indicators is expected to return.

Today’s release of the UK CPI (Consumer Price Index) is an important indicator.

Will the market react to the result, or will there be no reaction? This is worth watching.

◎ Today’s Event Schedule

Wednesday, March 25

06:45 NZD Trade Balance

08:50 JPYMain Opinions from the Bank of Japan’s Monetary Policy Meeting

18:00 EUR Germany IFO Business Climate

18:30 GBPUK CPI (Consumer Price Index)

21:30 USD US Durable Goods Orders

23:30 USD Crude Oil Inventories

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