Stocks seem to be keeping up with the momentum as Coronavirus measures are extended
On Monday, the U.S. stock futures started surging as Wall Street was getting ready for a strong rally from the previous week as one of the largest economy in the world, the US, has extended measures to flatten the curve of the impact of the coronavirus outbreak.
As reported by CNBC, Dow Jones Industrial Average futures traded 222 points higher, indicating an opening gain of about 150 points. S&P 500 futures and Nasdaq 100 futures also surged.
President Donald Trump expressed his sentiments on the current pandemic and stated that the death rate would peak in two weeks. Some investors see the measures as a preventing long-term damage to the economy.
Following Johnson & Johnson stating that it identified a lead vaccine candidate for the coronavirus, the outlook was lifted further.
The Dow last week posted its biggest weekly gain since 1938, soaring more than 12%. The S&P 500 and Nasdaq are coming off their best week since 2009, going up 10.3% and 9.1%, respectively. The S&P 500 posted daily swings of at least 2.9% in four of the five sessions.