20.04.2020 S&P 500 Daily Analysis

20.04.2020 S&P 500 Daily Analysis

S&P 500 is trading at $2,874.56 (+2.68%) due to the move made by the Fed last week as a measure to ease the impact of coronavirus on the US economy. The US has the largest number of confirmed coronavirus cases, currently more than 750,000 cases and over 40,500 deaths. The top-performing sectors in the S&P 500 were IT, communications services and healthcare. Many analysts have said that the size of companies listed under the S&P 500 makes them able to survive a couple of months of low revenue. Oliver Jones, a senior market economist at Capital Economics said,  "The S&P 500 is skewed towards a few ultra-large firms, some of which are also in those sectors ( IT, communications services and healthcare). Their sheer size might make them better able to weather a few months of dramatically-low revenues than most."