“The markets are bridging to the future.” elerianm said there are 3 issues at play: -When will we fully reopen? -How will we reopen? -Can central banks bridge us to that point?
U.S. equities rose on Monday, clawing back from last week's losses. A possible reopening of parts of the economy boosted investor sentiment. However, oil continued to fall on growing concerns that storage will soon reach capacity. Here's what happened.positive day in 4This year: S&P 500 is down 10.9%, on pace for its worst year since 2008straight positive day closing above 24,000 for the first time since April 17This year: Dow is down 15.
Sectors: 11 out of 11 sectors were positive today led by Financials up 3.6% for their best day since April 17 —All three major indexes climbed higher on Monday as some of the most beaten down stocks surged. The Dow rose 353.6 points, or 1.49%. The S&P 500 rose 1.45% and the Nasdaq climbed 1.11%. Major retail stocks, which have been hammered as the coronavirus led to widespread closures, rallied as more states announced that some businesses will soon be allowed to reopen.
extending recent losses that's seen eight negative weeks in nine, on ongoing fears that worldwide storage will soon be full. West Texas Intermediate for June delivery fell 24.56%, or $4.16, to settle at $12.78 per barrel, after earlier trading as low as $11.88. International benchmark Brent crude fell 6.76% to settle at $19.99. The WTI contracts for July and August delivery also slipped, suggesting that the Street doesn't see a meaningful recovery in the coming months.
that tracks the stock performance of companies working on a coronavirus cure shows just how closely the broader stock market rebound is pegged to a viable Covid-19 treatment or vaccine. The S&P 500 and the CNBC Covid-19 Testing & Treatments Index have moved in tandem since the market bottomed on March 23.
CNBC's Covid-19 Testing & Treatments Index is equal-weighed and currently comprised of 29 companies that are working on testing and treating the novel coronavirus. Its components are a mixture of pharmaceutical and biotechnology companies ranging from Eli Lilly to Gilead Sciences. —Home sales nearly ground to a halt at the end of March, as the coronavirus pandemic forced an economic shutdown that scuttled open houses and shattered consumer confidence.
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