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Tech & Science Dow Jones surges 1,627 points on slowing coronavirus deaths, ASX to jump

01:38  07 april  2020
01:38  07 april  2020 Source:   msn.com

ASX to rise on encouraging COVID-19 trend

  ASX to rise on encouraging COVID-19 trend The ASX is set to climb again after global markets were buoyed by news that daily coronavirus-related deaths have eased in some major hotspots.he Australian sharemarket is tipped to continue its strong start to the week after global equities were encouraged by early signs the coronavirus death toll is slowing.

The Dow Jones industrial average rallied in the final hour of trading and closed near intraday highs. All 30 stocks in the index climbed on the day. New York posted its first single-day decline in new coronavirus deaths on Saturday, offering new hope for the virus outbreak's US epicenter after weeks

GLOBAL MARKETS-Stocks jump as virus deaths slow ; oil falls after OPEC+ delay. New York Governor Andrew Cuomo followed on Monday that hospitalizations of coronavirus patients are "It is definitely not going to be a one-way street but this potentially could be a turning point , we are starting

TOPSHOT - The Fearless Girl statue stands in front of the New York Stock Exchange near Wall Street on March 23, 2020 in New York City. - Wall Street fell early March 23, 2020 as Congress wrangled over a massive stimulus package while the Federal Reserve unveiled new emergency programs to boost the economy including with unlimited bond buying. About 45 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 19,053.17, and the broad-based S&P 500 also fell 0.6 percent to 2,290.31 after regaining some ground lost just after the open. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images) © ANGELA WEISS/AFP via Getty Images TOPSHOT - The Fearless Girl statue stands in front of the New York Stock Exchange near Wall Street on March 23, 2020 in New York City. - Wall Street fell early March 23, 2020 as Congress wrangled over a massive stimulus package while the Federal Reserve unveiled new emergency programs to boost the economy including with unlimited bond buying. About 45 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 19,053.17, and the broad-based S&P 500 also fell 0.6 percent to 2,290.31 after regaining some ground lost just after the open. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)

Australian shares are set to extend yesterday's strong gains, following a rebound on global markets due to early signs the COVID-19 death rate appears to be slowing.

Coronavirus: Slightly fewer deaths and resuscitation patients in Italy

 Coronavirus: Slightly fewer deaths and resuscitation patients in Italy HEALTH-CORONAVIRUS-ITALY: Coronavirus: Slightly fewer deaths and resuscitation patients in Italy © Reuters / MANUEL SILVESTRI A LITTLE LESS DEATH AND DEATH PATIENTS IN RESUSCITATION IN ITALY MILAN (Reuters) - With 681 additional deaths, Italy has recorded in the last 24 hours a toll less heavy than the previous days, announced on Saturday the Agency for Civil Protection, the Total victims of the Covid-19 epidemic now rising to 15,362.

MARKET NEWS: Dow jumps 1 ,100 points on hopes that coronavirus cases are stabilizing | Check indexes. Dow surges 900 points on latest Spain and Italy announced the fewest deaths in more than two weeks, while New York posted its first single-day decline in new virus deaths on Saturday.

GLOBAL MARKETS-Stocks jump as virus deaths slow ; oil falls after OPEC+ delay. US STOCKS-Wall St surges on hopes of slowing coronavirus deaths . The Dow Jones Industrial Average .DJI rose 1 , 627 .46 points , or 7.73%, to 22,679.99, the S&P 500 .SPX gained 175.03 points , or 7.03%, to 2

ASX futures had jumped by 124 points (or 2.4 per cent) by 7:10am AEST.

The Australian dollar had risen sharply to 60.8 US cents.

Wall Street stocks rallied on hope the coronavirus pandemic may be nearing its peak in the Untied States, despite US President Donald Trump warning this week would be the "toughest" yet for America, and that "there would be a lot of death".

On Monday (local time), New York Governor Andrew Cuomo said recent data on the coronavirus, including hospitalisations and deaths, suggested the pandemic may be hitting a plateau.

Mr Cuomo also told a news briefing he was extending an order to keep non-essential businesses and schools closed for another two weeks until April 29.

The industrial-skewed Dow Jones index ended its day 1,627 points higher — up 7.7 per cent to 22,680.

Coronavirus: more than 700,000 officially declared cases worldwide

 Coronavirus: more than 700,000 officially declared cases worldwide 33,568 deaths have been recorded in 183 countries and territories. © AFP / BALDESCA SAMPER The Parisian More than 700,000 cases of new coronavirus have been officially declared worldwide since the start of the pandemic, according to a count made by the AFP from official sources on Monday morning.

The Dow Jones Industrial Average opened up 892.02 points or 4.24 percent at 21,944.55. The death toll from the coronavirus is expected to peak in the coming days, US officials also said. Worryingly, the number of new coronavirus cases jumped in China on Sunday, while the number of

US stock markets are surging higher on Monday following news that the death rate from Covid-19 in New York and the worst-hit European countries is slowing . The Dow Jones Industrial Average has gained nearly four percent after the opening bell.

The benchmark S&P 500 and Nasdaq indices jumped by 7 and 7.3 per cent respectively.

European markets were also optimistic. London's FTSE was up 3 per cent and Germany's DAX surged by 5.8 per cent.

'Bad recession'

"It is definitely not going to be a one-way street but this potentially could be a turning point," said Peter Jankovskis, co-chief investment officer at OakBrook Investments.

"But that is not to say it is going to be a smooth path.

"We all know from the recovery we experienced after the 2008 financial crisis there is always a potential for a negative development to cause the market to pull back again."

Despite the rebound, the chief executive of JP Morgan Chase, Jamie Dimon, was not as enthusiastic.

He warned the US could fall into "a bad recession" this year, and that his bank could suspend its dividend.

Mr Dimon — the most prominent voice on Wall Street, so far, to project that the economic damage of the coronavirus would not evaporate quickly — said the bank's earnings would be down "meaningfully in 2020".

But the JP Morgan boss said even in the worst-case scenario, the bank was strong and would continue lending to customers and would not need any government relief.

Coronavirus: Italy exceeds 20,000 dead .
,566 new deaths were recorded in 24 hours in this country hit hard by the coronavirus epidemic. © AFP / Piero CRUCIATTI The Parisian If this new official assessment in Italy reports a drop in intensive care patients for the tenth consecutive day, it is nevertheless particularly disastrous. Since the start of the epidemic, the country has suffered more than 20,000 deaths.

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