Stocks in rocky trade as investors assess risks of second wave

19.06.2020 - Davydova Maria
Stocks in rocky trade as investors assess risks of second wave

Asian shares and U.S. stock futures were in rocky trade on Friday as fears of a second coronavirus wave dwarfed hopes for a fast economic recovery.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1%, while S&P 500 e-mini futures were up 0.21%.

Chinese shares surged 1.15%, lifted by gains in the health care and financial sector. South Korean stocks dropped 0.25% amid diplomatic tensions with North Korea.

Australia’s S&P/ASX 200 was down 0.8% due to a major cyberattack on all levels of the Australian government.

Markets have been in a risk-off mood this week due to the spike in new coronavirus cases. On Thursday, 400 workers at a slaughterhouse in Germany tested positive for the virus. Meanwhile, investors are keeping an eye on a surge of new cases in Beijing and in several U.S. states.

All three major U.S. stock indexes were range-bound. The Dow slid 0.15%. The S&P 500 gained 0.06%.

Euro Stoxx 50 futures rose 0.03%, German DAX futures 0.04%, and the FTSE futures 0.19% in cautious trade.

Cleveland Fed President Loretta Mester said that the U.S. economy could take one to two years to fully recover. Gross domestic product for 2020 has already declined 6%, while the unemployment rate is expected to remain at 9% by year’s end. 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?