U.S. stocks gained a lot. What about European shares?

Stock markets had a few turbulent weeks lately. However, recent rallies brought enough gains to close the last quarter higher. In Europe, the Stoxx 600 Index rose by 0.1%, and the MSCI Asia Pacific Index climbed up by 0.7%.

U.S. stocks gained as well. The Nasdaq Composite Index skyrocketed by 1.9%, while the S&P 500 surged forward by 1.5%, and the Dow Jones Industrial Average jumped by 0.8%.

While investors are concerned due to new coronavirus cases and tensing trade relations with China, better-than-expected economic data still gave them hope.

During the second quarter, the Nasdaq Composite Index gained 31%. Meanwhile, the S&P 500 grew by 20% after a report showed consumer confidence posted its biggest rise since 2011. The Dow Jones Industrial Average also rallied by 18%, notching its best quarter in 33 years.

Other stocks also managed to rise. Uber Technologies Inc. increased on Tuesday after a report that it’s negotiating to buy Postmates Inc. FedEx Corp. soared as the economic bellwether used an efficiency drive and a rise in health-equipment deliveries to shore up earnings, softening the drag on profit from a jump in less lucrative residential deliveries.

On the other hand, Boeing Co. Plummeted down after one of its largest European customers scrapped a $10.6 billion purchase deal.

Despite the quarterly surge in equities, optimistic sentiment suffered. Rising coronavirus infections threaten to set back reopenings and, with them, any economic progress.

A new wave of the pandemic could be disastrous

On Tuesday, Federal Reserve Chairman Jerome Powell stressed that getting the pandemic under control was vital during the U.S. economy rebound. But infectious-disease expert Anthony Fauci stated that new cases could jump to 100,000 a day if behaviors don’t change. Signs that the economic crisis may linger longer will probably increase pressure for more aid.

The downside has become more limited considering how many investors missed the rebound, and how much cash has been sitting on the sidelines while so many remain bearish – noted Esty Dwek, the head of the global market strategy for Natixis Investment Managers.