Markets rallied on hopes coronavirus is stabilizing
US stock market rallied on Monday on hopes coronavirus outbreak is stabilizing after reports of first decline in fatalities in New York City, the center of the pandemic in US. The S&P 500 jumped 7% to 2663.68. Dow Jones industrial soared 7.7% to 22679.99 led by 19.5% jump in Boeing. The Nasdaq gained 7.3% to7373.08. The dollar strengthening slowed as the New York Federal Reserve said that its commercial security funding facility will begin on April 14, purchasing commercial securities issued by corporations, banks and municipalities: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.2% to 100.77 but is lower currently. Futures are rising currently.
DAX 30 led European indexes rebound
European stocks rebounded on Monday as Spain, Italy and Germany reported declining number of coronavirus cases. Both EUR/USD and GBP/USD reversed sliding yesterday with both pairs higher currently. The Stoxx Europe 600 index advanced 3.8% led by auto shares. The DAX 30 jumped 5.8% to 10075.17. France’s CAC 40 advanced 4.6% and UK’s FTSE 100 gained 3.1% to 5582.39 as Prime Minister Boris Johnson said he was “in good spirits” and had visited the hospital for “routine tests” Sunday.
Asian indexes rise while Australia’s All Ordinaries Index falls
Asian stock indices are higher today following the rally on Wall Street overnight. Nikkei rose 2% to 18950.18 despite resumed yen climbing against the dollar. Markets in China are rising as authorities reported no new deaths from the coronarivus over the past 24 hours and 32 new cases: the Shanghai Composite Index is up 2% and Hong Kong’s Hang Seng Index is 1.8% higher. Australia’s All Ordinaries Index however pulled back 0.7% as Australian dollar’s climb against the greenback continued while Reserve Bank of Australia left interest rates unchanged at 0.25% and warned the economy will be hit hard by the corona pandemic in the second quarter.
Brent rebounds
Brent futures prices are edging higher after a pullback on Monday. Prices slumped yesterday as the meeting between Organization of the Petroleum Exporting Countries and Russia was tentatively shifted to Thursday: June Brent crude closed 3.1% lower at $33.05 a barrel on Monday.
Gold advances as Dollar resumes weakening
Gold prices are extending gains today. June gold rose 2.9% to $1693.9 an ounce on Monday.
US stock market rallied on Monday on hopes coronavirus outbreak is stabilizing after reports of first decline in fatalities in New York City, the center of the pandemic in US. The S&P 500 jumped 7% to 2663.68. Dow Jones industrial soared 7.7% to 22679.99 led by 19.5% jump in Boeing. The Nasdaq gained 7.3% to7373.08. The dollar strengthening slowed as the New York Federal Reserve said that its commercial security funding facility will begin on April 14, purchasing commercial securities issued by corporations, banks and municipalities: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.2% to 100.77 but is lower currently. Futures are rising currently.
DAX 30 led European indexes rebound
European stocks rebounded on Monday as Spain, Italy and Germany reported declining number of coronavirus cases. Both EUR/USD and GBP/USD reversed sliding yesterday with both pairs higher currently. The Stoxx Europe 600 index advanced 3.8% led by auto shares. The DAX 30 jumped 5.8% to 10075.17. France’s CAC 40 advanced 4.6% and UK’s FTSE 100 gained 3.1% to 5582.39 as Prime Minister Boris Johnson said he was “in good spirits” and had visited the hospital for “routine tests” Sunday.
Asian indexes rise while Australia’s All Ordinaries Index falls
Asian stock indices are higher today following the rally on Wall Street overnight. Nikkei rose 2% to 18950.18 despite resumed yen climbing against the dollar. Markets in China are rising as authorities reported no new deaths from the coronarivus over the past 24 hours and 32 new cases: the Shanghai Composite Index is up 2% and Hong Kong’s Hang Seng Index is 1.8% higher. Australia’s All Ordinaries Index however pulled back 0.7% as Australian dollar’s climb against the greenback continued while Reserve Bank of Australia left interest rates unchanged at 0.25% and warned the economy will be hit hard by the corona pandemic in the second quarter.
Brent rebounds
Brent futures prices are edging higher after a pullback on Monday. Prices slumped yesterday as the meeting between Organization of the Petroleum Exporting Countries and Russia was tentatively shifted to Thursday: June Brent crude closed 3.1% lower at $33.05 a barrel on Monday.
Gold advances as Dollar resumes weakening
Gold prices are extending gains today. June gold rose 2.9% to $1693.9 an ounce on Monday.