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Home / Business / European stocks and Dow futures rebounded on hopes of stimulating and viral US trends

European stocks and Dow futures rebounded on hopes of stimulating and viral US trends



An employee wearing a protective mask at Holiday Inn Whitechapel Hotel, operated by InterContinental Hotels Group, cleaned Perspex screens before the hotel reopened for shared bookings in London, UK on 3 July 2020.

Chris Ratcliffe / Bloomberg News

European stocks rallied on Tuesday, on signs of a slowdown in the coronavirus pandemic and the possibility that a new US stimulus would be issued.

Up 0.3% on Monday, Stoxx Europe 600 SXXP,
+ 2.04%
2.1% increase.

Travel and entertainment led the rise, with gainers including International Airlines Group IAG,
+ 7.48%,
Carnival CCL tourism operator,
+ 6.34%
and InterContinental Hotels IHG,
+ 6.82%,
which reports a loss and states that they will not pay dividends.

Car manufacturer BMW3,
+ 4.90%
BMW CARS,
+ 5.29%,
Volkswagen VOW3,
+ 4.43%
and Daimler DAI,
+ 3.80%
registered a strong increase, boosting gains for Germany’s DAX DAX,
+ 2.64%.

French CAC 40 PX1,
+ 2.78%
and UK FTSE 100 UKX,
+ 2.32%
also jumped.

After rising 356 points for the Dow Industrial DJIA,
+ 1.30%,
future YM00,
+ 1.03%
showed the increase on Tuesday.

The picture of coronavirus in the US seems to be improving. According to the New York Times, the number of new cases has fallen 18% in the past 14 days and the number of new deaths has decreased by 6%.

The market rallied amid signs that the executive order that President Donald Trump signed to expand unemployment benefits will not actually reach unemployed Americans.

The extra $ 400 a week Trump’s order offers depends on states paying $ 100 and New York Governor Andrew Cuomo said no one in his state will get an extra $ 400. But officials in the White House and Congress say they are ready to resume talks on a stimulus package.

“The clouds of uncertainty are beginning to melt, and a glimmer of optimism is breaking,” said Stephen Innes, chief global market strategist at global markets. AxiCorp.

Trump’s discussion of the possibility of capital income tax cuts – he could order the Treasury Department to index capital income tax thresholds on inflation – is also news analysts grasp.

The latest labor market data shows the UK unemployment rate remained unchanged at 3.9% for the three months to June, reflecting those unable to find work as well as 7.5 million who are currently lose their job or temporarily leave their job.

Of companies being noticed, HelloFresh HFG,
+ 2.85%
3% increase as the German manufacturer of processed food sets increased their financial guidance for the third time this year. Shares have soared 163% this year.


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