European stocks rally and U.S. futures extend gains on central bank action

The German DAX DAX, +2.25% , French CAC 40 PX1, +1.85% and U.K. FTSE UKX, +2.18% bounced back.

The gains on the Continent tracked the reversal on Wall Street. Futures on the Dow industrials YM00, +1.57% rose 348 points after the 157-point gain for the blue chips DJIA, +0.61% on Monday. “It’s hard to ignore the sensitivity of risk assets to the Fed credit facilities - for now, we still need to be concerned about a new covid-19 outbreak in Beijing and a growing wave of new daily infections in several southern U.S. states,” said Stephen Innes, global chief market strategist at AxiCorp. “But its the transmission mechanism from rising regular cases to financial markets that is ultimately the concern and whether local or central governments re-impose social-distancing measures.

These are boom times. Lockdown curbed some demand but stimulus checks hid the real bust coming in 2 months time. Those flocking to shops n spending now will be selling stuff on ebay to survive in couple of months

With N.Korea/S.Korea and India/China situation

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