Stocks Continue To Rebound As Trump Extends Social Distancing Measures

Stocks continued their rebound on Monday morning after President Trump’s announced that social distancing guidelines will be extended to April 30.

At Thursday’s open, the Dow Jones Industrial Average gained 0.6%, or 140 points, while the S&P 500 was up 0.9% and the Nasdaq Composite gained 1.1%. Shares of Johnson & Johnson rose more than 4% in pre-market trading after the company said it had identified aStocks around the globe fell slightly in the early hours of the morning: Japan’s Nikkei 225 lost 3.7%, China’s Shanghai Composite lost 0.9%, and London’s FTSE 100 lost 2.3%.

Oil was also down significantly this morning, with the Brent crude benchmark trading 7.8% lower, below $23 per barrel.Despite market losses on Friday, the Dow and S&P 500 were up 12.8% and 10.3% last week—their since 1938 and 2009, respectively. The gains came as Wall Street cheered the news that Congress had passed the largest stimulus bill in American history—worth a staggering $2 trillion—to stem the economic fallout from coronavirus."Listen, I say that weeks — it could be four weeks, it could be eight weeks," National Economic Council directoron ABC's"This Week" yesterday, referring to the economic fallout from the coronavirus outbreak.

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