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World stock markets: rally goes on

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World stock markets: rally goes on
March 27
09:00 2020

Today began with a positive trend for stock markets and the energy one. However, their participants believe that this recovery is temporary.

After the increase of the US Dow Jones index by 20% over the past three days, energy prices have also grown. And today a rally has begun in Asian markets.

Analysts believe that such a surge in stock market activity is a short-lived phenomenon, like spring snow. There are few reasons for optimism, as the coronavirus pandemic is spreading around the world, and business activity is frozen due to the global quarantine.

Today, S&P 500 futures have fallen 1.5%, although yesterday this asset grew 6.2%. This is direct evidence that US markets may decline again.

Here’s how other indices behave today:

  • Japanese Nikkei 225 has grown2.8%,
  • Hong Kong Hang Seng has increased 1.2%,
  • Australian S&P / ASX 200 has fallen2%.

As for the energy market, the situation (at 7.20 am Moscow time) is as follows:

  • Brent oil futures increased about 1% and traded at $ 26.6 per barrel,
  • Futures for American WTI crude oil grew 1.9% to $ 23 per barrel.

Experts believe that oil will continue to decline. Stimulus measures taken by Central Banks are unlikely to be effective, because, due to the general quarantine, enterprises and transport in many countries operate at minimum speeds.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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