Stocks climb as market appetite improves over lowest reported new virus cases

13.02.2020 - Korneychuk Evgeniya
Stocks climb as market appetite improves over lowest reported new virus cases

Global equity markets reached new highs as China reported the lowest new cases in two weeks. Investors hope for a shift in the market as Chinese medical adviser says virus can be contained in a few months.

Total confirmed cases rose to 44,653, with 2,015 new cases reported, the lowest since Jan. 30. The report eased worries on the global impact of the virus on economies.

The dollar reached more than a two-year high against Euro as investors focused on U.S. stocks.

Crude prices climbed over virus slowdown, stirring hopes for a recovery in demand in the second-largest market of oil consumption.

U.S. Treasury Secretary Steven Mnuchin said that the economic impact of the coronavirus spread will not last beyond 2020.

The revival in investors’ appetite was also caused by a growth in corporate earnings and global economic recovery.

Stock indexes gain new highs, such as MSCI’s world index, Canada’s S&P/TSX, Germany’s DAX, New Zealand’s S&P/NZX 50, pan-European STOXX 600, and three major Wall Street gauges.

  • MSCI was up 0.57%.
  • Pan-European STOXX 600 gained 0.63%.
  • DAX climbed 0.89%.
  • Dow Jones Industrial Average added 0.94%, or 275.08 points, to 29,551.42.
  • S&P 500 rose 0.65%, or 21.7 points, to 3,379.45.
  • Nasdaq Composite increased 0.9%, or 87.02 points, to 9,725.96.

Brent crude gained $1.78, at $55.79 per barrel. West Texas Intermediate was up $1.23, at $51.17 per barrel.

U.S. gold futures traded at 0.1% higher, at $1,571.60 an ounce.

Overnight, Chinese and Hong Kong shares climbed 1%. Yuan reached a two-week high in offshore trade. Thai baht, Korean won, and Taiwanese dollar rose 0.3% to 0.5%.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue

Help with deposit?