Stocks up worldwide as governments eye reopening economies – By Stan Choe (Associated Press) / April 27 2020
With governments making moves toward letting businesses reopen, stocks rallied worldwide on Monday to kick off a busy week for markets.
From Rome, Georgia, to Rome, Italy, companies are watching as politicians detail plans to ease up on restrictions that were meant to slow the coronavirus pandemic but also erased businesses and jobs. Retail chains, cruise lines and other businesses whose profits hinge on people stepping outside their homes jumped to some of Monday’s biggest gains. The S&P 500 climbed 1.5%.
This week is chockablock with potentially market-moving events, including meetings for several of the world’s largest central banks. Nearly a third of the companies in the S&P 500 are also scheduled to report how profitable they were in the first three months of 2020 and, more importantly, perhaps talk about how they see future conditions shaking out.
With central banks and governments promising overwhelming amounts of aid for markets, some investors are looking beyond the economic devastation currently sweeping the world. They’re focusing instead on the potential return of growth as the outbreak levels off in some areas.
Treasury yields pushed higher in an indication of less pessimism in the market, but crude tanked again in the latest extreme swing that’s dominated oil markets in recent weeks.
Continue to article: https://www.abqjournal.com/1448056/stocks-rise-as-governments-plan-to-ease-virus-lockdowns.html
