U.S. and European Stock markets surged forward on Tuesday

U.S. and European Stock markets surged forward on Tuesday

The stock markets rallied on Tuesday. After a recent downfall, the stocks are beginning to climb up again. Meanwhile, investors are waiting for new reports which are due later this week. The Federal Reserve and European Central Bank will announce policy decisions on Thursday.

Some of the world’s biggest companies will release their earnings data also, Amazon.com, Apple, Microsoft Corp., Facebook, and Samsung Electronics being among them.

It seems the coronavirus pandemic is waning. However, China’s top scientists announced that the novel coronavirus would not be exterminated. Still, authorities are preparing to lift restrictions.

In Germany, new cases fell below 1,000 for the first time in more than five weeks. Italy also reported the lowest levels of new infections in seven weeks. And Spain relaxed the lockdown today. But investors worry about the outcome as the analysts warn that the process won’t be easy.

How much did the stocks gain during the last session?

U.S. equity futures surged forward along with European and Asian stocks yesterday. Futures on the S&P 500 Index climbed up by 1.1%, and the Stoxx Europe 600 Index rose by 1.6%. On the other hand, Treasuries drifted, and the U.S. dollar declined against all major currencies.

The MSCI Asia Pacific Index also soared by 0.7%, while the MSCI All-Country World Index gained 0.5%. However, crude oil extended its plunge, as demand remains low. Oil futures had tumbled below $11 a barrel in New York but rebounded slightly soon.

All major national benchmarks rose on Tuesday. Insurance and banking shares gained the most from the Stoxx Europe 600 Index’s futures. The S&P 500 index also closed at its highest point since March 10 on Monday, and its contracts pointed to a firm start on Wall Street today.

South Korean and Hong Kong equities edged up in an Asian session. Japanese stocks finished the last session slightly higher as well. On the other hand, futures dropped in Australia.

Comments Rating 0 (0 reviews)