European Markets in Negative Territory as US Stock Futures Drop

European Markets in Negative Territory as US Stock Futures Drop

Hong Kong's Hang Seng rose 1.7%. South Korea's Kospi rose 1.7 percent and the Shanghai Composite index was up 1.4 percent.

The Stoxx Europe 600 index fell 1.7% and the FTSE 100 index (Financial Times Stock Exchange) lost 3.1%.

For example, a mini-bull market has occurred previously during a bear market - providing a false hope of relief.

Jakarta's benchmark shot up 7.2 percent and Singapore's STI climbed 2.9 percent while in Australia, the S&P/ASX 200 fell 2.6 percent. But it's still poised to record a gain for the week.

Stocks finished lower after a strong of solid gains.

Energy (-6.9%) and information technology (-4.6%) were today's worst performing S&P sectors, while utilities (+0.5%) and real estate (+0.2%) were the only two groups to finish with gains. The S&P 500 logged a gain of 24% over a period of 30 trading days starting on November 20, 2008, even as the bear market continued during the height of the financial crisis, and the index did not bottom till March 9, 2009, marking the start of the bull market.


Investors remained optimistic as United States lawmakers put the finishing touches on a $2 trillion stimulus bill that will provide a boost to the economy, which has been battered by coronavirus.

The US House of Representatives is widely expected to clear a US$2 trillion (RM8.7 trillion) bill, aimed at flooding the country with cash to support businesses and families affected by the outbreak, after the Senate passed the proposal yesterday.

"The market is running with the assumption that while this tumult will be the deepest recession in modern-day financial history, it will also be the shortest", Innes wrote.

Shares' beneficial properties throughout Thursday's session, which got here even after the U.S. Labor Division reported the largest number of new weekly unemployment claims on record, despatched the Dow 1,351 factors larger to settle above the 22,500 stage - greater than 20% above its latest closing low from March 23.

NEW YORK, NY - JULY 08: Traders wait on a almost empty trading floor at the New York Stock Exchange (NYSE) after trading was halted due to a "technical glitch" on July 8, 2015 in New York City. The S&P 500 was down about 64 points and the Nasdaq was down about 212 points. Italy, one of many epicenters for the outbreak, reported its largest bounce in new instances within the final five days, with new instances Thursday rising by 6,153.

This story was first published on CNN.com, "Asian markets improve after Wall Street's third day in the green." .

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