The Dow-Jones index ended with a jump of 7.7 percent at 22,679 points. The broad-based S&P 500 advanced 7 percent to 2,663 points, and tech exchange Nasdaq gained 7.3 percent to 7,913 points.
Investors in the US felt strengthened to enter the market across a broad front after US President Trump expressed hope that the number of new contagion cases in America will decrease as a result of the restrictive measures. About 330,000 infections have been reported in the United States. According to experts, the coming weeks will be crucial. In cities such as New York, Detroit and New Orleans, a further increase in the number of infections is predicted in the coming days.
St. Louis Federal Reserve driver James Bullard said on Sunday that he did not believe that the US economy and labor market have fallen into free fall since the virus spread around the country. On Friday, a government report showed that the number of jobs has decreased by 701,000. That meant the first fall in the number of jobs in almost ten years. In addition, millions of Americans turned to the government for unemployment benefits.
Banks did good business. JPMorgan Chase headed 5.6% higher. In a letter to shareholders, the American bank has indicated that it still has sufficient capital and that it will therefore be able to take a beating.
3M also went up by 5.2 percent. According to the industry group, a report that the United States has intercepted a supply of breathing equipment for Germany is incorrect. And cruise company Carnival gained nearly a quarter of its stock market value, after it became known that an Arab investor has taken a large stake in the company.
Video conference company Zoom, on the other hand, lost 4.1 percent. After one corporate privacy flaw after another hit the news, several companies and organizations have banned the use of Zoom.
Credit card company Mastercard, which won over 11 percent, was also in the spotlight. The European Commission will investigate the takeover of the Danish payment service provider Nets after objections from various European member states. The deal that was announced last year involves an amount of 2.9 billion euros.
The euro was worth $ 1.0790, down from $ 1.0807 when the European stock markets closed earlier today. Oil prices fell due to the postponement of the video meeting of the oil countries about possible production cuts. A barrel of American oil became 6.3 percent cheaper at $ 26.56. Brent oil cost 3.9 percent less at $ 32.78 a barrel.