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TODAY ON WALL STREET: Conflicting outcomes

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04/07/2020 | 09:12am EDT

Markets are rising again today as investors hope that this economic crisis will be as brief as it is violent. The main U.S. indices are expected to open higher today, continuing their advance from the previous day, driven by signs of a slowdown in the coronavirus pandemic in several countries.

The Dow Jones Industrial Average (DJIA) futures contract is up 3.1%. New data from Johns Hopkins University shows that the number of new cases of contamination has decreased in recent days in the United States and Europe.

But it remains difficult to predict what will happen due to the many conflicting speeches and reports. Will we have a very long quarantine, or a quick return to normal? The financial markets, having very belatedly taken the measure of the consequences of the coronavirus, plunged, bounced, plunged even lower and bounced back again in a confusing way.

While "specialists" are competing with each other to describe the economic apocalypse that awaits us, other "specialists" are finding the basis for a "V" shaped recovery. Meanwhile, people are still dying in New York, Paris and London, but there is already talk of ending the quarantine.

In England, the Prime Minister has been taken in intensive care after worsening symptoms of coronavirus and the Foreign Minister Dominic Raab is now leading the country.

On the oil front, Russia and Saudi Arabia are still bickering and contradictory rumors are multiplying there too. The two states still have to agree on the terms of an armistice involving a reduction in production. They would like the United States to join the effort, which is far from guaranteed.

Today on the agenda, we have German industrial production and the French trade balance, along with two US statistics: the JOLT study on job openings and the monthly consumer credit figures.


Stocks mentioned in the article
ChangeLast1st jan.
BYD COMPANY LIMITED -1.17% 42.4 End-of-day quote.9.14%
DJ INDUSTRIAL 2.34% 25017.64 Delayed Quote.-14.27%
NASDAQ 100 -0.15% 9392.701423 Delayed Quote.7.80%
NASDAQ COMP. 0.49% 9346.570715 Delayed Quote.3.92%
S&P 500 1.53% 2995.31 Delayed Quote.-8.52%

Romain Fournier
© MarketScreener.com 2020
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