Yesterday was successful for the US stock market. According to the results of the trading session, each of the main indices has increased about 3%.
At the end of the session on Monday, Dow Jones Industrial Average rose by 3.19% and closed the session at around 22327.48 points.
Standard & Poor’s 500 has increased 3.35% and finished the session at 2626.65 points.
Over the previous session, the Nasdaq Composite Index has grown 3.62%, rising to 7774.15 points.
The US authorities did their best to manage the situation with the spread of the coronavirus pandemic in order to keep up investors’ positive mood.
We recall that at the weekend, President Trump announced that the restrictions would be extended until the end of April. The US President predicted a peak in mortality to be around mid-April. He believes that in late spring the problems caused by the epidemic will end.
Unfortunately, the States showed extremely negative dynamics in morbidity patterns. As of March 30, more than 152 thousand cases were recorded, 2,817 people could not cope with the virus.
A couple of days ago, the US leader was forced to sign a law to support the national economy. The volume of financial injections will be about $ 2 trillion. Legislators plan to pay $ 1,267 billion to small-income Americans, provide small businesses with $ 367 billion and allocate about $ 500 billion to specific cities and states. Most likely, these are not the only measures one more package of supporting measures will be adopted.
There is some good news. Johnson & Johnson has shown a record growth up 8% over the day. The official announcement of the imminent start of clinical trials of the coronavirus vaccine caused the growth. Other companies in the health sector can also boast excellent growth: UnitedHealth Group quotes has risen 3.6%; shares of Abbott Laboratories – 6.4%.
The tourism sector is expected to suffer more than others. Shares of Carnival have lost 11.2%, American Airlines Group shares have fallen 12.8%, quotes of Hilton Worldwide Holdings have dropped 0.7%.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group