While the world is grappling with COVID-19, billionaire Mark Cuban sheds some light on how it can change things positively for the business world.
The Dow Jones Industrial Average is actively gaining today as well as many stocks on the market. Meanwhile, U.S. coronavirus cases have topped 400,000
Spain, Italy, France, and Germany all recorded over 100,000 COVID-19 cases. As hopes for the sooner recovery from the virus started fading, global stocks and market indices suffered on Wednesday.
Bitcoin (BTC) price has managed to rise above $7,350. Positive tendencies can be observed in traditional markets as well.
Stocks rallied on Monday as investors cheered early signs that lockdowns in the U.S. and Europe may help to stop the coronavirus pandemic. Meanwhile, many Americans say that $1,200 stimulus checks won’t be enough.
The slowing number of new COVID-19 cases got the markets to cheer on Monday with a major rally. However, analysts are questioning the sustainability of this recovery with economic indicators showing a dark picture.
As there finally appeared some positive news about the coronavirus cases, the global markets started to react. Today in the pre-market, Dow futures have gained 837 points already.
Both the Dow Jones and the Nasdaq Composite managed increased but started to lose points as the COVID-19 outbreak continues to spread, affecting over 1 million people globally.
The Dow Jones dropped over 100 points on Thursday shortly after the start of today’s session as the Labor Department reported that initial jobless claims in the United States doubled to 6.6 million last week.
Top five Dow Jones stocks in Q1 include Microsoft (MSFT), Walmart (WMT), followed by Intel (INTC), Johnson & Johnson (JNJ), and Procter & Gamble (PG).
The U.S. markets continue to remain volatile amidst the new industrial output report and the jobless report releasing on Thursday. The total COVID-19 infected cases in the U.S. have passed over 200,000 with over 5,000 deaths.
The COVID-19 pandemic is the main topic for discussion today. The markets have far not the best period. S&P 500 and Dow are losing their positions.
Macy’s has been removed from the benchmark S&P 500 stock index. Its market capitalization currently is a representative of small-cap space according to S&P Dow Jones Indices.
With Europe turning as the epicenter of the COVID-19 outbreak, the European Central Bank has pledged $820 billion as part of the fiscal stimulus measures. Other central banks of France, U.K, and Germany are working on similar lines.
Just when the global financial markets were in a state of turmoil, Bitcoin failed to prove itself as a “safe haven” for investors. After rising 40% during early 2020, BTC ended the Q1 2020 with 10% negative returns year-to-date.