The stock market rally its wrongs

15 April 2020

The Nasdaq composite is once again outperforming the DOW and S&P500 index. Stocks from sectors such as e-commerce, software, pharmaceutical companies, medical products are actionable as the number of cases keep rising in the United States and around the world, but with hopes on the curve being flattened in the near future.

With some countries already easing the shutdowns, such as Spain which will start to allow some sectors to get back to work this week, fueled the stock market rally of te past days.

Amazon stocks gain

Amazon is recruiting around 75,000 people to be able to cope with increasing demand, and this is added to the 100,000 already recruited during the early phases of the coronavirus crisis.

The stocks jumped by 5.3%, to trade at 2,283.32, nearing its late March record high.

Amazon will soon release their first quarterly report by the end of April and investors will be interested to see for themselves, how well is the company doing during the pandemic.

Mixed results in Asian trading

Investor sentiment was low when the IMF - International Monetary Fund send out a grim warning that the global economy might see the worst recession since the Great Depression of the 1930s.

The Australian benchmark slipped into negative territory after a high opening that happened after the Wall Street rally.

S&P/ASX 200 Index is declining 22.70 or 0.41% to 5,465.40, after rising to a high of 5,533.00 earlier.

The Japanese market is declining despite the overnight rally on Wall Street, while the safe-haven yen strengthened.

Financial Events to watch for today

14:30 Gasoline Inventories