Monday, 18 May 2020 16:37

Markets Rise Like a Rocket Ship

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(New York)

After falling nearly 3% last week markets went off like a rocket ship today. From well before the main trading open, futures had been jumping on rising optimism. The big gains seemed to be centered on three critical aspects. Firstly, the Fed made a strong statement of support for how it would continue to help the economy. Secondly, there was good news about a new potential vaccine. Thirdly, despite broad reopening across the country, there has been little sign of a “second wave”.

FINSUM: As of the time of writing, today’s gain had already exceeded last week’s losses. Is it time for another big push higher?

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