Dow Jones Industrial Average Futures Rose 193 Points

New York stocks rebounded on Monday (in local time) as investors shed some worries about the spread of the new coronavirus infection (Corona 19).

CNBC and Marketwatch reported that the Dow Jones Industrial Average futures once dropped more than 200 points and then rose 193 points again. The Dow will start 154.64 points higher on Tuesday, CNBC said.

The Standard & Poor’s 500 Index and the NASDAQ fell 1.5% each, but turned upward.

According to Marketwatch, the expectation was that the world’s central banks, including the US Federal Reserve (Fed), will soon take action to prevent economic damage.

Bill Nelson, a former Fed official and chief economist at the Banking Institute for Banking Policy (BPI), said in a blog that he is waiting for a global effort to cut interest rates. “The cut will be at least 0.5 percentage point,” he said.

Goldman Sachs expects the Fed to cut a 0.5 percentage point from the Federal Open Market Committee (FOMC) on Monday 17-18.

Fed Chairman Jerome Powell said in an emergency statement last month, “We will use our tools and act appropriately to sustain the economy.” The mayor accepted that Powell suggested a rate cut.

Earlier, there was a sell-off in the prospect of corona 19 becoming a pandemic worldwide. On the 28th last month, the Dow closed at 2,5409.36, down 357.28 points (1.39%), and the S & P 500 closed at 2,954.22, down 24.54 points (0.82%). The NASDAQ closed at 8567.37, up 0.01%.

The Dow, S & P 500 and NASDAQ fell more than 10% last week, the biggest drop in 11 years and four months since October 2008. It also entered an adjustment phase that fell more than 10% from its all-time record high last month.

Investors reacted to panic as the number of correlators surged outside of China, where Corona 19 first appeared, US media analyzed.

China’s cumulative confirmation number exceeded 80,000, but the number of new confirmations decreased to 200. On the other hand, the number of confirmed patients in Korea increased to 4212 and the number of patients in Italy increased rapidly to 1694. Iran counted as 978. In Japan, there were 961 patients, including 705 cruise cruise ships, Diamond Princess, who had a group of patients and docked at Yokohama Port.

The UK and France were 35 and 130 infected, respectively. In addition, the first deaths in Corona19 occurred in Australia, Thailand and the United States.

According to China’s National Bureau of Statistics, the February Manufacturing Purchasing Managers’ Index (PMI), which reflects the economic trend, fell to a record-low 35.7, reflecting the impact of Corona19 in December. That’s a 14.3 point decrease in one month. PMI means a game rise above 50, and a game below 50 below.

The February Chinese manufacturing PMI, which includes a wide range of SMEs, also fell to a record low of 40.3.

Reviewer overview

Dow Jones Industrial Average Futures Rose 193 Points - /10

Summary

New York stocks rebounded on Monday (in local time) as investors shed some worries about the spread of the new coronavirus infection (Corona 19).

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