European Markets are now rallying, DAX up 150 points and FTSE up 90 points as they shake off the overnight equity weakness starting out of the US, then Asia. Coronavirus and weaker Oil markets shocked equity in the past 24 hours. This rally caught many investors on the back foot as they expected a continued breakdown. Clearly some people are looking past the issues of today and are expecting more openings of cities and towns in Europe, as some citizens look for a more normal life after being under lockdown – people want to get out and eat, have a drink and live again. The question now will be the next make move. This current rally is being viewed by experts as a bear market rally, suggesting that the US S&P 500, the Dow and indices in Japan and Europe reverse and fade for the next 10%. Keep in mind that since Monday, US markets have faded by 5%. More to come from our team.
European Markets Defy Coronavirus and Weak Oil, Equity Rallies at Open
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