Market Overview - Page 351

Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up with coronavirus restrictions easing. Brent crude futures were up 45 cents, or 1.3%, at $35.98.

Stocks surged on Tuesday as optimism grew about the reopening of the economy and a potential coronavirus vaccine. The S&P 500 rallied 1.9%, breaking above 3,000 for the first time since March 5. The Dow Jones Industrial Average rose 577.

European stocks climbed with global peers on optimism over economies reopening in some parts of the world and hopes for a vaccine to fight the coronavirus. The Stoxx Europe 600 Index added 1.2% as of 8:19 a.m. in London, rising.

The world markets are moving upwards. Japanese Nikkei225 reached a 10-week high, adding 1.5% this morning after growing 2% a day earlier. Against this background, the American S&P 500 is passing an essential double test. Futures on the S&P500 (SPX).

The pound is heading for this year’s fourth monthly slide, and a lengthening list of risks is pointing to more turbulence in June. Sterling traders look set to face heightened uncertainty on multiple fronts next month — the end-June deadline.

A U.S. ban on new offshore drilling in the Gulf of Mexico, which presidential hopeful Joe Biden promised to enact if elected, would lead to hundreds of thousands of job losses and billions in lost government revenue over 20 years,.

Countries where coronavirus infections are declining could still face an “immediate second peak” if they let up too soon on measures to halt the outbreak, the World Health Organization said on Monday. The world is still in the middle of.

With the S&P 500 down near 10% so far this year, some funds have managed to beat the stock market by investing in two emerging sectors: work-from-home and telemedicine companies. Although the U.S. stock market is still in the red.

Stock futures traded higher early Tuesday morning to begin a holiday-shortened week, as optimism about a potential coronavirus vaccine built. Futures on the Dow Jones Industrial Average jumped 416 points, pointing to an implied opening jump of around 429 points..

The global economy’s most important commodity is in serious trouble. Oil prices slumped from near $50 to $20 over just 11 days in March, breaking the market’s back. The coronavirus was spreading at alarming rates and countries were going into.

Home prices are likely to experience upward pressure later in the year, as U.S. housing market data indicate an approaching drop in supply. New housing starts fell to their lowest level in five years in April, signaling a coming drop.

Ifo’s German business climate index exceeded expectations in May, which helped the euro trade Monday. The indicator of business conditions increased from 74.2 to 79.5 (78.3 expected). The growth was due to an increase in the expectation’s component from 69.4.