Stocks rallied worldwide Monday as governments prepare to gradually lift restrictions they imposed on businesses to slow the sweep of the coronavirus pandemic.
In a 20-minute span that ranks among the most extraordinary in the history of financial markets, the price of oil cratered to a level that few, if any, thought conceivable.
Banks and other financial companies rose 3.6%, the biggest gain among the 11 sectors that make up the S&P 500. They had tumbled earlier on worries about waves of households and businesses defaulting on their loans. The market’s big recent gains, though, are built more on hope for improving conditions than on anything certain. Some investors are worried that the reopening of businesses, if done hastily, could lead to a second wave of infections, and many warn that it’s uncertain how long this recession will last.
In Europe, Italy laid out a timetable for easing restrictions, and other countries are set to detail their plans soon. The German DAX climbed 3.1%, while the French CAC 40 rose 2.5% and the FTSE 100 in London added 1.6%.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.K.'s Boris Johnson to return to work on MondayBritish PM Johnson will return to work Monday after recovering from COVID-19, government spokesperson confirms.
Read more »
Florida felons' voting rights case to begin on MondayA federal court will begin hearing a case on Monday that could decide whether hundreds of thousands of newly enfranchised felons in the key swing state of Florida will be able to vote in November's election.
Read more »
Boris Johnson to go back to work MondayU.K. Prime Minister Boris Johnson will go back to work Monday following his hospitalization earlier this month with Covid-19
Read more »
Start your Monday smart: What's happening this weekUS states reopen, 'Parks & Rec' special, May Day, Ohio and Kansas primaries. Here's what the next six days will bring.
Read more »
What's on TV Monday: 'Breeders' on FX; coronavirus; AxiosWhat's on TV Monday, April 27: Season finale of 'Breeders' on FX; coronavirus; Axios returns; Movies on TV; TV Talk Shows; 'Dispatches From Elsewhere' season finale
Read more »