25.03 - rejoyce! Markets are recovering today.
So, the situation in the markets is much better than it was say a week ago. The direction assumed by the major assets yesterday were largely extended, which might be a good sign after all. Seems that the news about the pandemic dying out in China has really given a boost of faith to the global traders. What will be the next move of the market remains to be seen.
In the meantime it seems that American stock market is about to get a big boost. And no, I am not talking about the possible stimulus package from Fed. It seems that Chinese production forces are gradually coming back to normal, which means that soon Apple and Tesla are going to be able to produce and deliver new goods as well as open their stores (in Apple’s case) all across China or at least in some of its parts. Surely this is going to bring traders back into the segment.
For the moment it is still unclear whether euro is going to withstand the pressure. Today European currency is growing due to stimulus bump, but we still have Italian crisis on our hands. With the country having barely dealt with the financial crisis, we are forced to wonder whether it is going to be able to come out of this crisis at all in the nearest decades, with Italy leading in the death toll numbers.
So, today we can see a recovery, which is a medicine for our sore eyes. But how long will it last? We are still in the middle of the pandemic. We are still not out of the woods. But yes, seeing a recovery today is really cool, wouldn’t you say?
Here are the shifts for the day:
Topix added 6.9 percent.
Kospi advanced 5.9 percent.
Shanghai Composite recovered 2.2 percent.
Hang Seng from Hong Kong grew 3.8 percent.
S&P 500 futures increased 2.25 percent.
Euro added 0.2 percent - $1.0841.
Pound recovered 2.1 percent - $1.1918.
Yen lost 0.5 percent – 111.28 per dollar.
Canadian dollar added 0.7 percent - $1.4316.
Tesla added 16.3 percent - $505.
Apple recovered 10 percent- $246.88.
Facebook grew 8.7 percent – $160.98.
Amazon advanced 2 percent – $1940.1 per share.
Google added 7.2 percent- $1130.01.
WTI is heavier by 1.6 percent - $24.71 per barrel.
Brent dropped 0.4 percent - $27.56.
Gold dropped 1.15 percent - $1603.1 per ounce.
Silver surged 0.4 percent - $14.36 per ounce.
Platinum grew 3.6 percent – $730.03.
Palladium advanced 3.5 percent - $2011.55 per ounce.