Dow Jones futures turned positive today morning after crashing 7% on Thursday on the report of rising COVID-19 cases. Analysts are weighing the impact of the economic reopening of the market.
Yesterday for the second time in June 2020 Bitcoin price collapsed 10%. The drop coincided with the significant crash of the Dow Jones index.
The Dow futures have lost over 800 points today, meanwhile, Amazon (AMZN) stock is in the green now.
Following the decision of the Federal Reserve not to change the interest rate, Dow Jones and S&P 500 experienced consecutive losses. Other market indicators got a boost to show different market response.
The Nasdaq index managed to break the 10,000 barrier for the first time ever. This historic record became possible thanks to the increase in the shares of big tech companies.
Nasdaq Composite became the first of the big three indexes to bounce back to a record high. On Monday, it rose to 9,924.75, closing at the highest since February 19 when it ended at 9,817.18.
The U.S. markets seem to be recovering these days. The Nasdaq Composite managed to reach a new record high today.
The Nasdaq 100 index showed a sharp recovery after the market crash and made a new intraday record on Thursday. Analysts are turning bullish over the reopening of the economy with many saying that the worst is behind us.
After the industry data showing fewer job losses than expected, investor sentiment turns positive on account of reopening the economy after a long lockdown period. Some analyst think that the period of U.S. economic recession is over.
With major states in the U.S. lifting the lockdown, traders showed optimism over kickstarting the economy. So far, the market has ignored the civil unrest after riots broke out following George Floyd’s death. Analysts think that if this continues further, it can deter consumer confidence.
Violent protests have taken place for six straight days in dozens of U.S. cities. The stock market is volatile. Now Dow Jones is 100 points up, though when the market opened it was in the red.
Dow, S&P 500, Nasdaq 100 are falling in the pre-market after it has become known that President Donald Trump is going to hold a news conference on China on Friday.
The markets seem to start coming back to life. Dow futures are gaining points today in the pre-market.
For the first time since March, the S&P 500 has reached 3,000. Dow Jones has already gained around 600 points today. On the back of rising indices, stocks of biotech companies are going up.
American biotech company Novavax said it had started the first human study of its experimental coronavirus vaccine, with initial results on safety and immune responses expected in July. The U.S. futures positively reacted to the news.