DOW Futures rise

9 April 2020

Early on Wednesday DOW futures rose along with the S&P500 futures as the number of coronavirus cases rose in the US, topping 400k.

Hopes that the coronavirus outbreak may soon be turning a corner after a reduction in the number of daily cases in France, Spain and Italy. 

US stocks surged on Wednesday and after Bernie Sanders announced that he is dropping out of the presidential race, this fueled the market to rally.

European markets rally

The FTSE 100 in London was 52 points higher trading at 5,708 points and the DAX in Germany is expected to be opening higher (at 10,406) while in France the CAC 40 is seen 32 points higher at 4,453.

The good news is that in Italy, the MIB is seen 15 points higher and European markets look to follow the benchmarks in Asia.

Unfortunately, there might be a hit to the market today when the US unemployment claims report ending April 4 will be released.

Gold slightly up

A rise by 0.1% after hitting a 4-week high of $1,671.40 on Tuesday, was seen by spot gold which is trading against a weaker dollar.

With the dollar showing signs of weakness, gold prices with keep being supported.

Other precious metals such as Palladium rose by 0.1%, reaching $2,176.73 while Platinum gained 0.1% reaching $730.15 per ounce, after a 3-week high.

Silver also climbed 0.1% by $15.06 per ounce.

Financial Events to watch for today

12:30 Initial Jobless Claims