The hope of a vaccine pushed markets.
Monday: The beginning of the week was good for the markets: all benchmarks ended the trading session in the green. Moderna’s successful vaccine trial moved the markets. The most significant gains were by TECH100 and Germany30, which rose 3.85%, and 5.67%, respectively.
The short-selling ban for a handful of European countries ended.
Bank of Spain announced that the pandemic pushed the economy to set negative records. In just three months, the economy shrunk by 5.2%. The contraction is expected to increase by up to 12.4%.
Baidu had a better than expected Q1 report, as the pandemic forced people to stay indoors. In after-hours trading, the stock price went up 8%.
France and Germany have put together a monetary measure worth $545 billion debt-backed plan to help the most affected European countries get back on their feet.
Tuesday: Information about Moderna’s vaccine has surfaced and made the investors lose their trust. Benchmarks fell by 0.5% up to 1.59%.
Gold added 0.44% to $1, 753.20 per ounce.
Walmart had a better than expected financial report. Due to the pandemic, online sales grew by 74%. In after-hours trading, it gained more than 3%.
Kohl’s Q1 report was disappointing. Unlike Walmart, it lost 43% in just three months. This year alone, the stock price fell by 63%.
Wednesday: Europe started to ease the lockdown measures, which made the benchmarks gain.
Japan225 lost 0.05% after the country’s exports collapsed during the pandemic.
Gold lost what it gained on Tuesday, dropping by 0.49%.
Target had a good Q1, part of the pandemic, due to which the online services increased by 278%.
Thursday: The American benchmarks ended the day in red, with losses between 0.41% and 0.97%.
HongKong45 closed at 3.7% - reaching a seven-week low.
Ford had some problems when reopening some of the essential plants in the States. Some workers were found positive of infection. Until now, the stock fell 41%.
The unemployment report showed another 2.438 million jobless people. Since the lockdown, more than 38 million people are on unemployment benefits.
Friday: Japan225 gained 1.75 after the government announced a new potential stimulus package.
AstraZeneca announced sponsorship from the U.S. in its efforts to produce a viable vaccine against the virus. It has received $1 billion to push the gas-pedal in the developing process.
Alibaba posted their Q1 report, which exceeded analysts’ expectations. The revenue grew by 22% compared to the same time last year.
Stay updated with the latest market news! Register now!
Sources: investing.com, edition.cnn.com, marketwatch.com, cnbc.com, seekingalpha.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.