Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

European COVID-19 situation improvement boost risk assets

By Gorilla Trades. Originally published at ValueWalk.

Business Interruption European COVID-19 Situation virtual summitcovid-19 virus Coronavirus infections in Turkey help breathing Coronavirus Chronology

In an intra day update Gorilla Trades strategist Ken Berman, while commenting on the improvement in the European COVID-19 situation, said:


Q1 2020 hedge fund letters, conferences and more

European COVID-19 Situation Improving

The major indices are all trading significantly higher at midday, adding to yesterday’s lofty gains in early trading. Global risk assets have been enjoying strong inflows for the second day in a row, thanks to the continued improvements in the European COVID-19 situation. The domestic numbers got worse again today following yesterday’s dip in the number of new cases, but even though the pressure on the U.S. health care system continues to mount, the fact that the containment measures are working in Europe boosted investor confidence globally.

In economic news, the IBD/TIPP economic optimism number slightly missed the consensus estimate, dipping below 50 for the first time since 2016, but the JOLTS job openings estimate was much better-than-expected, still not fully reflecting the effects of the pandemic. German industrial production and Italian retail sales also beat the consensus estimates, triggering a bounce in the struggling euro, but the European financial system remains under pressure, as the leaders of the European Union (EU) still couldn’t agree on a common solution to the financing problems of the Union. 

Market Wrap

Market breadth has been slightly weaker than yesterday, but nevertheless, the short-term bullish momentum is healthy, with advancing issues outnumbering decliners by a more than 5-to-1 ratio on the NYSE. 18 stocks hit new 52-week lows on the NYSE and the Nasdaq, while 9 stocks hit new 52-week highs. The major indices have been trading below their VWAPs (Volume-Weighted Average Price) for most of the morning session, warning of a possible intraday reversal. The fact that cyclical issues remained strong this morning is a plus for bulls, but tech stocks showed weakness, which is something to keep an eye on this afternoon. Stay tuned!

The post European COVID-19 situation improvement boost risk assets appeared first on ValueWalk.

Sign up for ValueWalk’s free newsletter here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!