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Stocks try to shake off second wave virus fears

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U.S. stock futures erased losses and Asian stocks held flat on Monday, trying to shake off worries that rising coronavirus cases in the United States could scupper a quick economic rebound from the massive downturn triggered by the pandemic.

FILE PHOTO: Passersby wearing protective face masks following an outbreak of the coronavirus disease are reflected on a screen displaying stock prices outside a brokerage in Tokyo, Japan, March 17, 2020. REUTERS/Issei Katoalso eked out gains of 0.1%, similarly recovering from early losses.

Highlighting economic challenges from the impact of social restrictions to contain the pandemic, Apple Inc said on Friday it would temporarily shut 11 U.S. stores as coronavirus cases rise in some states, triggering selling in stocks.Graphic: COVID-19 in the United States,“The second wave is becoming a theme for markets. The increase in states such as Florida and South Carolina is big enough to be labelled as second wave,” said Yoshinori Shigemi, global strategist at JPMorgan Asset Management.

“The market has been pricing in a rapid recovery so I doubt there are much upside gains to be made. We now need to see whether the earnings outlook will meet up with expectations,” said Takuya Hozumi, investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

 

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This is still the first wave... smh

You got an official end date for the first wave?

“Only Thing We Have to Fear Is “Market Crashes” Itself”...📉⬇️🤯😱😭

Read my blog analysing factors contributing to current market rally and the factors which would impact its movement in coming times:

There is a lot of pain ahead.

It won't work

Crash!

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