The President of the Federal Reserve, Jerome Powell, said on Monday that Americans must prepare for a difficult road in the aftermath of the COVID pandemic. -19, but said he would not bet against the national economy. ability to persevere in the most significant public health crisis of more than a century.
What do benchmarks do?
Dow Jones Industrial Average Futures
YMM20,
up 283 points, or 1.2%, to 23,800, those of the S&P 500 index
ESM20,
They rose 33.85 points, or 1.2%, to 2,880.50, while futures on the Nasdaq-100
NQM20,
Related Downloads:
They rose 100.50 points, or 1.1%, to 9,197.
Friday the Dow
DJIA
it increased by 61 points, or less than 0.3%, to 23,685.42, while the S&P 500
SPX
added 11.20 points, or 0.4% more to end the session at 2,863.70. The Nasdaq Composite Index
COMP,
closed at 9,014.56 after gaining 70.84 points, or 0.8%.
Shares closed lower last week, with the Dow Jones losing 2.7%, the S&P 500 losing 2.3% and the Nasdaq 1.2%.
What drives the market?
In an interview with CBS "60 Minutes" Show
, which aired on Sunday, Powell has set the stage for the US recovery. United States It may take a while and consumers may lack conviction until efforts to find a vaccine for the disease derived from the new coronavirus strain are successful.
That said, the creator of monetary policy has taken a cautiously optimistic tone about the likelihood of a relatively short-term rally for an economy that has shown signs of the heavy burden placed on it by the measures established for limit the spread of the pathogen.
"In the long term and even in the medium term, you don't want to bet against the US economy," Powell said in the TV interview. He warned that a second wave of infections could further shake confidence.
Powell also acknowledged that the unemployment rate could reach up to 25%, marking levels never seen since the Great Depression. But the head of the Fed said he was not afraid of a second depression for the United States and predicted that an economic rebound would begin to take shape in the second half.
What actions are targeted?
- Tesla Inc.
TSLA,-0.51% Local authorities gave him the green light to resume operations at his Fremont, California auto plant, according to the chronicle of San Francisco
In a report Sunday, ending a battle with Alameda County officials, who had banned the opening of factories and manufacturing facilities to stem the spread of the coronavirus.
Table of Contents Download