Nasdaq · April 29, 2020
Treatment news and the Fed on the same day
+3.57%
single-day change vs previous close
Part of a longer stretch
The Nasdaq's COVID rebound
midway through · 2020-03-23 → 2020-06-08, +44.66% over the whole period
What happened that day?
- 29 April 2020 — the Nasdaq rose 3.57%. No single cause can be pinned to the day
- In the morning an antiviral trial reported interim results showing a shorter recovery time. A treatment implies less need for lockdown, and the market did that arithmetic immediately
- The Federal Reserve met the same day, held rates where they were and said it would do more if more was needed
- First-quarter growth was published the same morning. It was deeply negative, and the market looked past it
- By then the market was trading the next few months rather than the last three. The first quarter was already known
- The index had bottomed on 23 March, and this day sat in the middle of the recovery
- From the 19 February high to the 23 March low the index fell 30.12%
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is put together from the public record; where a specific source was consulted it is listed above.