US stocks go up, investors hope for a fast recovery
US stocks have gone up on April 8. Traders are once again hoping that the worst period of the pandemic is over.
At 1540 GMT the Dow Jones Industrial Average has gone up 588 points - that is 2.6% - and has started its progress to the highest trade closure in more than three weeks. The S&P 500 has climbed up 2.3%. Meanwhile Nasdaq Composite has risen by 2%.
The new wave of investor optimism has been caused by the new projections of the coronavirus death toll. According to the new forecasts, the virus might have a lesser impact on the US population, than previously thought. Researchers at the University of Washington claim, that COVID-19 will kill only 60000 americans. Earlier the government has stated, that 100000 deaths might be on the line.
The spread of the virus has also reduced. Its rate of growth has gone down to 8.1% on April 8, and it has been going down for a few days.
Nevertheless, short-term forecasts remain pessimistic. The purchase index of the Mortgage Bankers Association’s has gone down 12.2%. This is the finale of its deepest decline since 2010.