|Day's Range||9,553.97 - 9,748.83|
|52 Week Range||8,255.65 - 13,795.24|
Yahoo Finance’s Tom Belger joins the On The Move panel to break down the latest news from the United Kingdom amid the coronavirus outbreak.
Asian stock markets found reasons to be positive on Tuesday (March 24). Japan's Nikkei index closed just over 7% higher - its biggest one-day gain since February 2016. South Korea's ravaged Kospi index did even better, closing 8.6% up. That was its biggest daily gain in 12 years. The rebound was driven by hopes of more massive global stimulus measures. On Monday (March 23) the U.S. Federal Reserve pledged an unlimited supply of dollars for markets. Now investors hope the Bank of Japan will do something similar. South Korea's doubling of existing stimulus measures also helped. The hopeful mood carried over into the European open. Major indexes there were all up 3-4% in early trade, with Germany's Dax the strongest performer. TeamViewer was among the big gainers there, rising as much as 10%. Some traders see the connectivity firm as a likely beneficiary of the home working trend. Such gains for European stocks came even as new data showed an economic plunge. The latest euro zone Purchasing Managers' Index plummeted to a record low 31.4 - way below the 50-point level that signifies economic expansion. On currency markets the prospect of a flood of dollars saw the U.S. currency ease back from recent highs.
Jefferies Global Equity Strategist Sean Darby joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the Asian markets are rebounding from the coronavirus outbreak.
It’s a particularly busy week ahead. Economic data, Brexit negotiations, and updates on the coronavirus will continue to keep the markets on edge.
A run of 5 consecutive weeks in the red came to an end for the European majors, as government and central bank support overshadowed the doom and gloom.
European stocks and U.S. equity futures fell on Friday, as U.S. coronavirus cases surpassed China and the global spread intensified.
European stock markets traded lower Friday, with investors taking stock after recent hefty gains and as the coronavirus pandemic continues to reap damage throughout the region. The broader based Stoxx 600 Europe index dropped 2.5%. The number of Covid-19 infections have continued to mount worldwide, to well above 500,000, but the news from Italy, the epicenter of the outbreak in Europe, has been disappointing as infections surged Thursday by 6,153, the most in five days.
The DAX30 saw a more modest 1.28% gain on Thursday as the majors rebounded from early losses. Hope prevailed on the day as the markets bet on the stimulus package to support the U.S economy and U.S workers. The move came in response to the U.S weekly jobless claims figures.
European stocks reversed early losses to trade higher as Wall Street reacted positively to the passage by the Senate of the stimulus bill as well as a report on the spike in jobless claims.
More than 3.2 million Americans filed for unemployment benefits over the week ending March 21, the Labor Department said,
European stock markets pushed lower Thursday, amid concerns about the extent of the economic damage caused by coronavirus pandemic as investors still wait for action from policy makers. The broader based Stoxx 600 Europe index dropped 1.0%. The latest economic releases in Europe showed German consumer morale hitting its lowest level since 2009 while French business confidence plunged at a record pace in March, to its lowest since 2014.
With the EU in lockdown mode, another rally would defy logic. The ECB’s Economic Bulletin and U.S employment figures could bring the majors back to earth…
Wednesday on the European Market started with a small pullback but I guess it’s normal after an upswing like that. The DAX is close to the 10200 points so a 38,2% Fibonacci retracement of the coronacrash.
When coronavirus hit Belgium, the country could not have been in worse political shape. Stuck with a caretaker government since December 2018, Belgium also had a stopgap prime minister, Sophie Wilmès, who had been in office for less than six months. All of which makes it even more impressive that the country acted decisively when it came to rolling out lockdown conditions and enforcing them.
European stock markets pushed firmly higher Wednesday, with investors breathing a sign of relief that U.S. policymakers have managed to come together to deliver a massive rescue package to bolster the country’s beleaguered economy. Shares in German conglomerate Thyssenkrupp (DE:TKAG) rose over 20% after saying it would cut 3,000 jobs at its steel unit by 2026, with no forced layoffs until March 31, 2026, as part of a wage deal struck with powerful labor union IG Metall.
While economic data will be in focus, the latest coronavirus numbers from Europe and the progress of the U.S Stimulus Bill will likely be key drivers.
European stocks rose on Tuesday amid tentative signs that the coronavirus spread is slowing in Italy, one of the worst-hit countries, as negotiations continued on a U.S. stimulus package.
Central banks and governments around the world are pledging trillions in coronavirus support as nearly a fifth of the world's economy goes offline.
The FED tries to lift the markets again but the bazooka which they used yesterday was more like a rubber stick than a miracle weapon or maybe it is but it works with some kind of a delay.
European stocks rose on Tuesday amid tentative signs that the coronavirus spread is slowing in Italy, one of the worst-hit countries, as negotiations continued on a U.S. stimulus package. The German DAX jumped 6% in opening trade, and the French CAC 40 rose over 4%. Markets also rallied across Asia, as the Nikkei 225 jumped 7.1% in Tokyo and the South Korean Kospi Composite rose nearly 9%. Futures on the Dow Jones Industrial Average rose 876 points.
European stock markets pushed sharply higher, helped by the U.S. Federal Reserve’s latest attempt to calm the markets and the expectation of similar help by its European counterpart. The broader based Stoxx 600 Europe index gained 3.9%. The Federal Reserve announced Monday a sweeping extension of its plans to backstop businesses and consumers by increasing its asset purchases by any volume necessary.
Prelim March private sector PMIs are due out and will have an impact on the majors. Expect the news wires and government action to also be in focus.
Even an unprecedented Federal Reserve action couldn’t lift European stocks into positive territory on Monday.