Dow futures up 500 points thanks to hopes of recovery and vaccine news
[ad_1]
US equity futures signaled a strong opening for Wall Street on Tuesday after a long weekend of vacation as investors took advantage of news about the coronavirus vaccine and signs that global economies are starting to come back slowly from the end of the pandemic.
How are benchmarks negotiated?
Dow Jones Industrial Average Futures
YMM20,
increased 513 points, or 2.1%, to 24,940, while the S&P 500 futures
ESM20,
up 56.60 points, or 1.9%, to 3,009.50, while futures on the Nasdaq-100
NQM20,
He gained 187.75 points, or 2%, to 9,596.75.
Friday the Dow
DJIA
fell 8.96 points, or less than 0.1%, to finish at 24,465.16, the S&P 500 index
SPX
closed 6.94 points more, or 0.2%, at 2,955.45, while the Nasdaq Composite
COMP,
it traded 0.4% to 9,324.59, a gain of 39.71 points.
For the week, the Dow Jones rose 3.3%, the S&P 500 3.2% and the Nasdaq Composite 3.4%. The Russell 2000 recorded a weekly increase of 7.8%.
Related Downloads:
What drives the market?
A cautious market stoppage on Friday, before Memorial Day holiday weekend, came amid mounting tensions between the U.S. and China, but investors appeared to be focusing more on the signs of life from the major savings.
Japanese Prime Minister Shinzo Abe announced plans for another round of stimulus, saying total aid from the two packages would exceed 200 trillion yen ($ 1.86 trillion)
“However, as the needs of the financial markets are these days, even the slightest positive news on the Covid-19 front triggers a bullish immune response and another wave of peak virus trade,” said Jeffrey Halley, senior analyst at Asia-Pacific Market, OANDA, in a note to customers.
“US. The Memorial Weekend saw the United States in force enjoying your post-blockade freedoms. Japan, in addition to announcing more than billions of dollars in stimulus money, noted that the latest blockades on its biggest cities are coming to an end, “he said.
Also considered a positive and advanced biotechnology company Novavax Inc.
NVAX
He said he had started phase 1 human trials on his candidate vaccine. The first phase of the placebo-controlled study will include 130 healthy adults; The first set of data from this study is expected in July.
But these tensions in China continued. The country denounced on Monday a decision by the United States to expand the so-called list of Chinese corporate entities, which have restrictions on doing business with American companies, for alleged human rights violations in the Xinjian Uighur Autonomous Region.
Meanwhile, White House national security adviser Robert O’Brien warned on Sunday that the United States would likely sanction China if it went ahead with new national security laws. Hong Kong, where protests have resumed. . This adds to Washington’s dissatisfaction with how China has handled the coronavirus epidemic. Also on Sunday, Chinese Foreign Minister Wang Yi warned of certain political forces in the United States trying to push the two countries into a “new cold war”.
Investors will receive new data on Tuesday, along with a pair of house price indexes, consumer confidence data and new home sales.
How do other markets work?
European stocks indicated a stronger opening on Tuesday, while Asian stocks rose across the board, led by a 2.8% rebound in the Nikkei 225 index.
NIK
while even the Hong Kong Hang Seng Index
HSI
up 2%.
The US dollar fell against a basket of its main rivals, with the ICE US dollar index
DXY
trading down 0.2%. Raw Futures
CL.1
rose 3.5% to $ 34.40 a barrel, while gold futures
GCM20,
slipped modestly.