13.05.2020 The Dow Jones Daily Analysis

13.05.2020 The Dow Jones Daily Analysis

The past few weeks have seen the stock markets rebounding as Coronavirus cases slowed in Asia and Europe as different parts of the U.S began reopening after weeks under lockdown. The Dow Jones was one of the assets that made gains but now seems to be erasing those gains as worries over a new wave of Coronavirus grip the markets. The worry is that rushing to reopen the economy might be unwise. On Tuesday the Dow erased 457.21 points to close at $23764.78(1.81%). On Tuesday the Senate held a hearing with Dr. Antony Fauci who is the Director of National Institute of Allergy and Infectious Diseases. Dr. Fauci warned against the dangers of reopening the economy too soon. Meanwhile the President of the United States Donald Trump is once again pushing the Fed to lower interest rates even further beyond zero to negative. The Chair of the Federal Reserve Jerome Powell is bound to make a speech on Wednesday on a webinar organized by the Peterson Institute for International Economics and will be addressing the current economic issues.