New York (AFP)
The New York Stock Exchange jumped Monday, stepping up gains shortly before the close, in a market more reassured by the latest developments related to the coronavirus pandemic in the United States and around the world.
Its flagship index, the Dow Jones Industrial Average, climbed 7.73% to 22,679.99 points.
The highly technological Nasdaq gained 7.33% to 7,913.24 points, and the broader S&P 500 index rose 7.03% to 2,663.68 points.
For Peter Cardillo of Spartan Capital Securities, Monday's jump is "linked to the fact that President Donald Trump and Vice President Mike Pence said they see the light at the end of the tunnel" about the pandemic.
The market is rising "with the hope that we may have reached a peak in the spread of the coronavirus", underlines the expert with in particular the drop in the daily number of deaths in several European countries, including Spain.
In Italy, however, the results started to rise again on Monday with 636 new deaths in 24 hours.
In Japan, the government is preparing to declare a state of emergency and unveil a massive plan to support the economy.
As for the United States, despite the more reassuring statements of MM. Trump and Pence, there were more than 10,300 deaths on Monday and more than 347,000 cases.
The federal administrator of public health services even predicted last weekend that this week could be "a time like Pearl Harbor, like September 11, except that it will not be located."
Market players were also attentive to any new announcement of measures likely to come at the bedside of the American economy, hard hit by the effects of the pandemic.
The American Central Bank announced on Monday that it will mobilize to participate in the gigantic rescue plan for small and medium-sized businesses, which started not without difficulty last week but seems to be gaining momentum.
Fed President Jerome Powell is scheduled to speak Thursday morning.
"Any encouraging news from him could fuel the rise of Wall Street," said Cardillo.
In the bond market, the 10-year rate on the US debt was up, posting 0.6651% around 8:30 p.m. GMT against 0.5948% on Friday at the close.
© 2020 AFP