From “Global stocks and US futures rally on coronavirus hopes, oil slips back” posted on CNN Monday morning:
Global stocks and US futures surged on Monday as new data suggested that efforts to contain the coronavirus pandemic may be starting to pay off in Spain, Italy and New York.
Australia’s S&P/ASX 200 and Japan’s Nikkei 225 (N225) gained more than 4% and Hong Kong’s Hang Seng Index (HSI) rose 2.2%. Markets in mainland China were closed for a public holiday. European stocks rallied in early trading. The FTSE 100 (UKX) added more than 3% at the open, while
Germany’s DAX (DAX) surged 4.2% and France’s CAC 40 (CAC40) increased 3.5%.
Dow (INDU) futures gained 800 points, or 3.8%. S&P 500 (SPX) futures were up 3.8% and Nasdaq (COMP) futures rose 4.2%. Wall Street is poised to rebound after US stocks were pushed lower on Friday by a dire report showing the US economy lost over 700,000 jobs in March.
Global markets moved higher after Spain reported 674 deaths from the coronavirus on Sunday, the lowest daily rise since early March, and Italy recorded its lowest death rate within a 24-hour period in two weeks with 525 fatalities.
My take: April is the cruelest month.