Advertise On EU-Digest

Annual Advertising Rates

5/18/20

Wall Street Fata Morgana: Dow soars almost 4% main stock-market indexes turn positive for May on coronavirus vaccine hope

U.S. stocks soared on Monday, erasing May losses, on optimism that the American economy might be percolating again, while the medical community works toward a potential COVID-19 vaccine.

Risk assets also received a boost after Federal Reserve Chairman Jerome Powell on Sunday night struck a more upbeat tone on the U.S.’s growth prospects, while highlighting that the central bank still retained tools to limit the economic downturn.

Note EU-Digest: Wall Street "Fata Morgana" goes in overdrive, as it clamps on to imaginary "positive" news. Stop dreaming. It's time for a reality check folks. The US economy is on life support.

Dow soars almost 4% main stock-market indexes turn positive for May on coronavirus vaccine hope - MarketWatch

No comments: