The US stock markets opened with growth, amid news of impending progress in the development of vaccines against COVID-19, not looking at what on Friday the us stock market suffered substantial losses amid a number of pessimistic statistics and a new conflict between America and China.
Growth of quotations also triggered by optimism about a restart of the largest economies in the world and a statement Powell's that in the current quarter will be very bad for the labour market and the economy as a whole. The estimated level of unemployment in USA is 25%, GDP could fall by 20-30% due to the suspension of economic activity caused by the spread of the coronavirus. Powell said, “I think there's a good chance that the third quarter will increase. Should be a shorter downturn.”
Chief market strategist at FXTM Hussain Sayed said that - “the good news is that the economies around the world begin to open, indicating that economic activity will partially recover compared to a full lockdown, which was observed in April.”
At the moment, the Dow Jones Industrial Average index to 17:23 MSK rose to 693,91 paragraph (2,93%) to 24379,33 points, Standard & Poor's 500 rose 73,64 paragraph (2,57%) and amounted to 2937,34 points, and the Nasdaq Composite rose 176,73 paragraph (1,96%) - to 9191,29 points.
In the US there are those companies that have risen from the restart economies. The value of the securities of Walt Disney Co (NYSE:DIS). grew by 7.2%, MGM Resorts International up 5.8%, Carnival Corp (LON:CCL). - 10.6%. Paper airlines Delta Air Lines (NYSE:DAL) and United Airlines added to 8.2% and 11.4%, respectively.
The value of securities Wells Fargo (NYSE:WFC) & Co. jumped more than 6%, shares of Bank of America (NYSE:BAC) and Citigroup (NYSE:C) was added about 5%, paper JPMorgan Chase grow by 3.9%.
Shares Of Tesla Inc. rose in price by 2.9%. As the authorities of Alameda County, California, approved a plan for the American manufacturer of electric vehicles for the resumption of work at the plant in Fremont.
The market value of American Express Co (NYSE:AXP). (AmEx) rose by 5.1%, but credit cards AmEx, one of the leaders of the American market of plastic cards in the USA in April has decreased by 8,8% in comparison with March, said in a statement published on the website of the securities and exchange Commission (SEC) US.