The coronavirus outbreak has impacted the global
economy creating damages that would take a long time to recover. That being said, while the previous week
witnessed a terrible time for the U.S economy due to the uncontrollable virus
outbreak situation centering in the state of NewYork and the number of
confirmed cases crossing 2,17,000, along with the U.S. jobless claims number
reported to be over 700,000. This led to a steep fall in the U.S stock market and
stock futures. The market on Monday was altogether different.
With the reports of the virus outbreak containment efforts being successful to
some extent in some parts of the U.S. and the death toll slowly decreasing,
some people think that the peak stage might just be over. This has led to a
somewhat positive start in Wall Street on Monday.
U.S. stocks rallied and the global economy surged on Monday, as investors seem
to be optimistic about the recent market considering the virus to be at its
peak in some of the majorly affected places in the world. The S&P 500
gained more than 4% in early Monday trading.
The outbreak of the virus and a global effort to stop its spread has been
affecting the global economy intensely with the stock market crashing to its
lowest in decades. That being said, the recent news of the virus slowing down
in several places, seems to be a positive sign for the global economic markets.
While the number of deaths and new infections is slowing in some European
places and the state of New York in the U.S, investors are cheerful as the
stock market is quite likely to bounce back due to the virus slowly going away,
and nearing its peek in some other places of the world. The DOW futures rise by
3.8%, and Nasdaq futures rose by almost 4.2% in early Monday trading, and the
U.S. stock market is poised for a bounce-back or rebound, with investors
optimistic about the market with the recent virus statistics and the surging
global stocks and U.S stock futures.
After what has been a huge blow to the economy on a global basis, the complete
recovery and normalcy of the global market might be a matter of substantial
time and terrible times of crisis in the recent future.
