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John Wang
April 9 12:00

Dow is boosted by the optimistic COVID-19 forecast

Oil surge adds to the growth.
The Dow has seen rapid growth on April 8. The index has been riding the latest wave of optimism on the market.

Traders are once again hoping that the worst period of the pandemic is over.The rally 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. Some traders believe, that this might be the beginning of the national economy’s recovery.
The optimism of the markets is echoed by the authorities. The government of New York Andrew Cuomo has stated, that if the containment measures will be effective, the situation will become stable in the next few weeks. However, the governor has warned, that this does not mean “”the return to normal” - instead, the economy is going to return to a “new normal”.
Oil prices have also returned to growth, which led to a rally on energy stock market. Major stocks have gained almost 5%. The latest climb of Boeing stake has encouraged industrial rally.