Prayer #108: For Investors and the Markets Amidst the Coronavirus Crisis
The last several months, during the Coronavirus crisis, have had a major effect on investors and the markets. The markets reached their low during this time on March 23rd, when the Dow Jones bottomed out at 18,592, down from its historic peak of 29,551 on February 12th. Since that time, the market has slowly come back, recovering about 42% of what it has lost. The resurgence of the COVID-19 virus has somewhat stalled the full recovery of the markets, but yesterday's gain of about 370 points on the Dow Jones was the sixth-highest since the onset of the Coronavirus. The hope of a viable vaccine relatively soon, plus the development of COVID treatment drugs that appear to be promising has raised the hopes of investors. The BioNTech vaccine candidate we recently discussed in the Daily Coronavirus Prayer on July 1st is, according to CEO Ugur Sahin, on track for regulatory approval by the end of the year. Promising news regarding the demise of COVID-19 would quite likely mean a significant recovery of the market.
Pray for a full recovery of the investment markets, which would restore economic confidence in our nation. Pray for investors as they seek to discern how to invest, and when. Pray for the COVID-19 virus to begin the process of truly dissipating, which will quite likely lead to a great economic upsurge.
Deut. 11:14: "He will give the rain for your land in its season, the early rain and the later rain, that you may gather in your grain and your wine and your oil."