Surprisingly, after an astounding 3.1 million Americans filed for unemployment last week, stocks rallying for the fourth day in a row was a surprise to many; meanwhile, Chinese stocks are falling. So far, the Dow has risen about 372 points, the NASDAQ about 118, and the S&P almost 39.
Big News in the stock market world, as a cheerful and hopeful milestone was reached: The NASDAQ gains for the year have turned positive once more, erasing the damage done by the recent fall, almost at 9,100 points.. The Dow Jones however, still has more to go- almost 5,000 points. The biggest movers leading yesterday's rally included Zilllow, PayPal, and Twilio, rising about 12, 14, and 39 percent respectively. BizRoca will cover today's market movers, and how those three stocks moved today in the market in a coming article
After a rough week, Chinese markets rose today, yet the recession is not over. The Hang Seng index rose almost 250 points, the Shanghai SE Composite Index rose almost 24 (1% and 0.8% respectively), despite Coronavirus-related issues. Much affect from the Chinese recession hasn't been felt in the stock market in the United States yet, but the ongoing tensions of a Coronavirus cover-up are heightened, worrying investors. For more information regarding the tensions and everything you need to know about how they will affect global markets Click Here. Other global indexes, most prominent the Dax and FTSE 100 both rose around 1.4%, after closing only 5 minutes and one hour ago respectively.
Although having little affect on the market itself, companies are losing money, for obvious reasons. With that, states have given guidelines on what needs to happen in order to reopen, especially as Coronavirus cases fall. Companies with brick and mortar establishments frantically are wondering what the next step is, when they've received the green light to reopen normally. All in a tough spot, stores located on individual property, and not shared buildings like malls or shopping plazas, have been expected to have a better re-launch. Why?
Their "strategic assets"- their location. People will be wary when returning to crowded shopping plazas, and will most likely go to stores with individual locations because of the significantly less amount of people.
A rise on the market looks hopeful, and indicates a sense of normalcy returning, after Coronavirus shook our economy, causing distress.
Summary: Stocks rally for the fourth straight day in a row, while the Chinese recession continues, their markets surprisingly rise for the day. Tension continues between the Trump Administration and the Chinese Government, amid a possible Coronavirus cover-up. Companies must consider their next steps when reopening after the pandemic, realizing things will still not be the same- individually located stores that are not in plazas or malls are expected to have a better reopening. Why? Location-based assets. Many malls are partially and cautiously reopening-only time will tell the post-pandemic situation.
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