Pre-Market Review
Coronavirus Still Impacting The Markets

Posted by James Hughes -
Scope Markets

Coronavirus developments will continue to remain top of market minds for investors in a busy week ahead. With a lack of containment of COVID-19, markets have been rallying. All three major indices in the US logged their first back-to-back week of gains since the end of February.

However, there is a growing fear of how US citizens are reacting. Also, concerns point to the government if it’s going far enough to make sure the people follow lockdown rules. President Donald Trump has been under pressure for handling the virus. His usual off the cuff press conferences left many nervous.

Trump’s Reelection Comes Under Public Scrutiny after Coronavirus Handling

The Coronavirus virus outbreak is a significant threat to Trump’s potential reelection in November. His dismissive performances at White House briefings could leave supporters questioning their vote. President Trump’s approval rating dropped from over 50% to below 45% since mid-March.

This week sees a focus on the FAANG stocks on Wall Street. Netflix, Google parent company Alphabet and Amazon all report earnings. These are now the Wall Street giants that dominate how markets move. However, even for these specific stocks, we could well see mixed results.

We have already seen big bank profits tumble but for Netflix global lockdown could be wholly good for business. Retail sales saw a drop for March. However, those same figures showed that online shopping had increased. This is something that could benefit Amazon for their data released on Thursday.

The economic calendar looks particularly busy for the week, but Monday is uneventful. Markets might focus on the latest virus data in the US. Current numbers stand at 2.4 million infected and over 164,000 deaths globally, with 40, 000 in the US.

Despite death numbers still on the rise in many countries, there are calls for the end to lockdown. Spain, Italy and Germany are easing rules in certain areas. With people protesting, the US may be forced to act soon. However, the virus is nowhere near its peak in North America.

Share this article:

Disclaimer: This material is a marketing communication and shall not in any case be construed as an investment advice, investment recommendation or presentation of an investment strategy. The marketing communication is prepared without taking into consideration the individual investors personal circumstances, investment experience or current financial situation. Any information contained therein in regardsto past performance or future forecasts does not constitute a reliable indicator of future performance, as circumstances may change over time. Scope Markets shall not accept any responsibility for any losses of investors due to the use and the content of the abovementioned information. Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.

Payment Methods

Scope Markets
Scope Markets
Scope Markets
Scope Markets

Awards

Scope Markets
Scope Markets
Scope Markets
Scope Markets

Scope Markets offers institutional and retail trading services to businesses and traders worldwide. Our top management team has more than 20 years of experience in the industry, and we are proud of the solid partnerships we built over the years. Whether it's a business or individual, Scope Markets has a wide range of trading solutions that are compliant, flexible, cost-efficient, innovative, and place the client first.

Contact Us

Registered address:
6160, Park Avenue, Buttonwood Bay, Lower Flat Office Space Front, Belize City, Belize

Email:
customerservice@scopemarkets.com

Tel:
+44 2030 516959

Risk Warning

Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure.

Legal Information

RS Global Ltd is authorized and regulated by the Financial Services Commission of Belize ("FSC") under the Securities Industry Act 2021 with registration number 000274/2.

Restricted Regions

Scope Markets does not offer its services to the residents of certain jurisdictions. Please read carefully our Restricted Countries document.

This website uses cookies to provide you with the very best experience and to know you better. By visiting our website with your browser set to allow cookies, you consent to our use of cookies as described in our Privacy Policy.

© Copyright 2022 Scope Markets. All Rights Reserved.