Elite Capital International: Stock Market surge as Investors gambles on Reopening of the economy

Growing numbers of confirmed cases of coronavirus will continue as the government readies the economy for reopening. Investors are quite worried and scared by the statistic of the pandemic but they still took the chance and support the government’s movement on historic stimulus programs by central banks.

Around 30,000 new covid19 cases have been reported in the U.S. from Friday till Saturday last week according to John Hopkins University. It was the highest stat ever noted since May 1 of this calendar year.

Even as the number of cases grew as days pass by, U.S. stock market is rallying and pushing its best to advance and rebound to give investors positivity.

Equity markets have steadied in recent weeks and the S&P 500 is within 10% of its pre-pandemic peak the Dow and Nasdaq advances to erasing percent of what they loss from previous months.

Stocks
– The S&P 500 Futures Index climbed about 0.49% to 3,074.5.
– The Dow Jones Industrial Averages is up by 0.38% to 25,625.
– Nasdaq Composite Future tops another gain from last week by .63% to 9,985.75.
– Russell 2000 futures advance by .62% to 1,410.60 as of this writing.
Bonds
– The yield on the benchmark 10-year Treasury note was lower at 0.6921% as of 2:20am.
– The yield on the 30-year bond fell up to 1.4569%.
– The yield on the 2-year Treasury bond has no changes by 0.188%.

Crude indexes decreases a bit as Market opens this Monday, but Gold gains and bounce by 1%.
Commodities

– West Texas Intermediate crude fell by -0.63% to $39.50 per barrel.
– Brent crude also decreases by -0.57% to $41.95 a barrel.
– Gold however did not follow fall but advances by 1.10% to $1,741.81 an ounce.

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