Wall St. advances as US states reopen for businesses

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Wall St. advances as US states reopen for businesses

On Monday, the 27th of March 2020, all three key US stock indices gained more than 1 per cent as investors’ optimisms had spurred up following an ease of forced lockdown measures across a number of US states, though the Wall St.

appeared to be on a cautious “buying” mood at the onset of a bumpy quarterly earnings’ week. Besides, following Monday’s (27th) progress of the US stocks, all three major indices of the Wall St. had jumped out of the bearish territory with all of them trading within 20 per cent losses from their record all-time closing highs set on February 18th, while the benchmark S&P 500 seemed to be well-poised to report its best monthly gain since 1987.

Meanwhile, as a slew of US states had started off easing lockdown measures aimed at reviving a US economy which could witness an unemployment rate as higher as 16 per cent this year, cautioning against a quick and “V-shaped” recovery, an advisor of Independent Asset in New York, Oliver Pursche, said on Monday (April 27th), “In general, I think the steps state governors are taking are the right ones and are measured and careful.

If we start reopening tomorrow and there’s no big second wave of infections, I still think it’s 6 to 12 months at least until everything is back to normal. It’s much easier to hit ‘stop’ on an economy than it is to press ‘start.

’” Citing statistics, on Monday’s (April 27th) Wall St. closure, the S&P 500 gained 1.47 per cent to 2,878.48, Dow added 1.51 per cent to 24,133.78, while the tech-heavy Nasdaq Composite rose by 1.11 per cent to 8,730.16.