Where are the financial markets going? Stocks jumped on Monday on investor hopes that infection and death rates from the coronavirus are slowing in parts of the U.S. and in Europe. New coronavirus infections and deaths are showing signs of slowing in Italy and Spain. The center of the U.S. outbreak, New York, also reported the number of daily deaths has been effectively flat for two days. That was enough to launch stocks higher despite the U.S. still bracing for a surge of fatalities due to COVID-19. New York Gov. Andrew Cuomo said restrictions should stay in place to slow its spread. The S&P 500-stock index rose 175 points, or 7%, to close at 2,664, while the Dow surged 1,627 points, or nearly 8%, to 22,680. The tech-heavy Nasdaq also gained more than 7%.”We’re running on raw optimism, maybe that’s the best way to put it,” said Randy Frederick, vice president of trading and derivatives at Schwab Center for Financial Research.The Federal Reserve also boosted market sentiment by announcing that it would purchase loans that banks make to small businesses under the federal government Paycheck Protection Program.  In an economy devastated by coronavirus, business owners and employees struggle with the loss

Continue To Full Article