As the states begin to reopen and money flows to individual’s and companies…. and the media turns to some regular stories from the constant virus bad news?
The stock market has begun a move upward returning value back to investor’s holdings…
U.S. stocks continued their rally on Tuesday, climbing for a third consecutive day, and global markets rose as more governments made plans to gradually reopen their economies and investors prepared to scrutinize corporate earning announcements.
The S&P 500 rose about 1.4 percent in early trading. The index had rallied about 1.5 percent on Monday. European markets were 1 to 2 percent higher, following mixed trading in Asia.
But U.S. oil prices continued to whipsaw on Tuesday. The price of West Texas Intermediate, the type of oil used to determine industry prices in the United States, fell nearly 20 percent in volatile trading on Tuesday, before recouping most of those losses. The price is now about $12.50 a barrel, a level virtually unheard-of before the double whammy of the coronavirus outbreak and a price war between Saudi Arabia and Russia.
Market cools today 4/28/2020….
Closes around -40 points after starting at +300