* U.S. stock futures up 5%
* European shares jump, Asian shares end down
* Gold rises, oil climbs, 10-yr T-note yield ~0.92%
NEW YORK, March 13 (Reuters) - Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Caroline Valetkevitch. Reach her on Messenger to share your thoughts on market moves: caroline.valetkevitch.thomsonreuters.com@reuters.net
DOW INDUSTRIALS: DUE FOR BIG BOUNCE, BUT STILL DOWN FOR THE COUNT? (0915 EDT/1415 GMT)
Since peaking in February just shy of 30k, it's been an especially rough ride for the Dow industrials .DJI . Thursday's close, the blue-chip average has lost over 28% of its value in just 20 trading days. This as the market has suffered its fastest fall from record highs into bear-market territory ever.
That said, given the speed and extent of the swoon, the Dow, and the market, are ripe for upward reactions at any time. This after both the NYSE .AD.N and Nasdaq .AD.O registered a record number of new lows on Thursday. Meanwhile, the Dow's weekly RSI ended Thursday at its most oversold since early October 2008. (Click on chart below)
Indeed, CBT E-Mini Dow Futures 1YMcv1 are suggesting a snapback of around 5% early in the regular session, while the SPDR Dow Jones Industrial Average ETF DIA.P is saying about 6%. Even so, the DJI will have more work to do to repair recent damage. For instance, even with the bounce, the index can still threaten its first weekly close below its 200-week moving average, which ended Thursday at about 23,606, since early-October 2010.
Of note, from deeply oversold levels in October 2008, the Dow did snap higher. However, it ultimately fell to lower lows in the weeks and months ahead.
Thus, it remains to be seen whether an initial bounce will signal a major V-bottom reversal, or just a pause in a still-developing bear market.
The next support below Thursday's trough (21,154.46) is at the 38.2% Fibonacci retracement of the 2009-2020 advance (20,744.90). The 50% retracement is at 18,019.26. Gabriel)
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STOCKS LOOK SET TO RALLY AFTER BIGGEST DROP SINCE 1987 (0900 EDT/1300 GMT)
U.S. stock index futures jumped more than 5%, hitting a limit-up in trading, and pointed to a sharply higher opening on Friday as optimism for a U.S. stimulus package helped to calm investor jitters over the impact of the coronavirus pandemic.
The gains come a day after the Dow and S&P 500 registered their biggest daily percentage drops since "Black Monday" in 1987. .N
U.S. Democrats and Republicans signalled they could soon agree on support measures. Australia also pumped liquidity into its financial systems.
Cruise liners were also set to bounce back after a brutal sell-off this week.
Here is your early market snapshot:
(Caroline Valetkevitch)
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https://tmsnrt.rs/2QeI9q1 Dow03132020T
https://tmsnrt.rs/2xAIEUZ
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