The New York Stock Exchange has started with rises a week that the American Public Health spokesperson anticipated as “Pearl Harbor moment”. Investors have reacted optimistically to emerging signs that containment measures are slowing down the spread of the coronavirus pandemic in the United States and Europe. The Dow Jones gained 7.7% and the S&P 500 7%. All 30 Dow stocks rose, as did the 11 sectors represented in the S&P.
The increases on Monday constitute the twelfth consecutive session with movements of at least 1% in the Dow Jones, a pattern that was not seen since March 2009.
In New York State, the one hardest hit by the coronavirus, with almost as many confirmed cases as Spain as a whole, the death toll fell this Sunday for the first time compared to the previous day. Although the authorities warned against the temptation to draw positive conclusions from an isolated data. Italy and Spain, with the population subjected to severe confinement measures for weeks, are showing a decreasing trend in the number of deaths, which the health authorities view with some optimism.
“We are beginning to see the light at the end of the tunnel,” President Trump said Sunday. Hours earlier, the federal government’s Public Health spokesman, Surgeon General Jerome Adams, had warned Americans to prepare for “the hardest and saddest week” of their lives. “This is going to be our Pearl Harbor or Our 9/11 moment, frankly, “he said.” It’s just not going to be so localized. It’s going to happen all over the country. “
The moderate optimism in the New York park comes after last Friday closed the worst quarter since the 2008 financial crisis. The publication of the number of applicants for unemployment benefit, almost 10 million in the last two weeks of March, an unprecedented figure, points to the colossal impact that social distancing measures will have on the economy, which already affect 90% of Americans needed to slow the spread of the virus.