After a sloppy start with the oil drama earlier last week, a soaring rally was expressed in the U.S markets. The Dow Jones closed to more than 1,600 points to start the week despite a lot of analysts looking at a possible economic depression.
Stocks that contributed to the euphoric rise were Raytheon Technologies, American Express, and Visa, flying more than 11% each. Boeing carries the Dow, gaining more than 19%.
Investors were optimistic about the latest data released by Johns Hopkins University. Although it is still early to determine the overall trend, a lot of analysts are already convinced by the data:
New York, the top state that was hit with the coronavirus, reported 594 deaths on Sunday, fewer than 630 on Saturday, showing its first daily decline.
Tom Lee, head of research at Fundstrat, said in a note to clients:
“Incoming data suggests NY state might peak sooner than Cuomo’s optimistic case […]With better visibility on the healthcare crisis in the U.S., particularly, on a potential to model a national peak, we believe buyers are now taking control.”
In addition to the recent data shown by the U.S., Europe is also beginning to flaunt good signs as well.
Europe’s four worst-hit countries reported declines in coronavirus related deaths as well, with Italy getting the spotlight: a new low of 525 deaths on April 5, the lowest daily number since March 19.
Spain’s toll declined for a third straight day, and the U.K.’s was lower than the previous days. France reported an additional 518 deaths, the fewest since last April 2.
With both Europe and U.S. showing good signs in flattening the curve in the coronavirus cases, here are the other countries that showed signs of optimism to start the week:
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