Dow’s future grows as Trump administration signals coronavirus epidemic may stabilize

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Stock index futures rose sharply on Sunday evening, as investors appeared eager to focus on a glimmer of optimism from the White House about the potential to stabilize the rapid spread of the worst viral epidemic in generations.

What do the main indexes do?

Futures for the Dow Jones Industrial Average
YMM20,
+ 2.80%

up 643 points, or 3.1%, to 21,600; those of the S&P 500 index
ESM20,
+ 2.86%

rose 76.30 points, or 31%, to 2,559; while the Nasdaq-100 futures
NQM20,
+ 3.55%

rose 270.50 points, or 3.6%, to 7,793.25.
Friday the Dow
DJIA,
-1.68%

was 360.91 points, 1.7%, lower to finish at 21,052.53, while the S&P 500
SPX,
-1.51%

lost 38.25 points, or 1.5%, to close at 2,488.65. The Nasdaq composite index
COMP,
-1.52%

lost 114.23 points, or 1.5%, to finish at 7,373.08.

For the week, the Dow Jones lost 2.7%, the S&P 500 fell 2.1% and the Nasdaq recorded a weekly decline of 1.7%.

What drives the market?

President Donald Trump adopted a somewhat optimistic tone at a Sunday press conference that may have given some investors hope, even though he warned with experts that the days and the The coming weeks could be among the most difficult of the pandemic era.
“The United States will reach a horrible point in terms of death, but it will be a point where things start to change for the better,” he said on Sunday evening.
Vice President Mike Pence said “we are starting to see glimmers of progress”, referring to efforts to slow the spread of the deadly pathogen that has infected more than 1.3 million people and claimed the lives of nearly 70,000 people in the world. In the United States, approximately 330,000 people have been infected with the disease, which has shut down parts of the economy at home and around the world.
The week ahead will likely be difficult for investors. Cities like New York, Detroit and New Orleans are expected to see an increase in infections in the coming days, experts say.
Surgeon General Jerome Adams over the weekend said the coming week could be the toughest week for Americans since the September 11 terrorist attacks and other tragedies. “It will be our time in Pearl Harbor, our time in September 11, but it will not be located,” he told Fox News on Sunday.
“It will happen across the country. And I want America to understand that, “he said.
Meanwhile, St. Louis Federal Reserve Chairman James Bullard said on Sunday that he did not believe the US economy or the job market was in “free fall” as the coronavirus swept the country.
“We ask people to stay at home to invest in national health, and we ask them to use the unemployment insurance program to get the transfers they need so they can pay their bills while they are at home while they can’t work because health officials are trying to control the virus, “said Bullard on” Face the Nation. “
Markets ended sharply lower on Friday after the worst employment report in 11 years.

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