Good morning, Bull Sheeters. We’re looking at a positive start to this trade-shortened week.
Let’s see where investors are putting their money.
We begin in Asia. Japan’s Nikkei is soaring, up 4% in afternoon trade, and Hong Kong’s Hang Sang is having its best day in a week. (Chinese markets are closed today.) The markets are climbing on hopes we’re turning a corner in the fight against coronavirus after some promising figures from over the weekend. In a sign of investor confidence, the benchmark KOSPI of South Korea, a model country in fighting the outbreak, is up 23% since its March 19 low.
There are green screens across Europe at the open as well. Hotspot-countries Italy, Spain and France all recorded declines in the coronavirus death toll in recent days. Now the focus in on Britain where Prime Minister Boris Johnson was hospitalized on Sunday as his coronavirus symptoms persist. The British pound sunk 0.4% initially on the news, but has since rebounded.
The U.S. futures are set to pop at the open. The Dow looks to add 800 points, as I type, and the S&P 500 is on pace to gain close to …