The mood on the global stock markets seems to be rapidly improving. Stock indices around the world are back to making gains after their initial slump due to the coronavirus epidemic which began in China.
In Europe, the Stoxx 600 rose by 0.8%. In the United States, the S&P 500 futures is up 0.76% so far today, while Nasdaq futures grew by 0.88%. It is too early to speak of risk appetite actually returning to the market, but risky assets such as the Australian dollar are also on the rise today.
The improvement came in large part due to news about new treatment options for the coronavirus. A university in China stated that they have medicine they could use to treat the sick (over 20,000 in China alone).
Meanwhile, China has opened up to international assistance in the matter, calling industry leaders, doctors, and researchers from abroad to help end the epidemic quickly. A team of UK-based scientists claim that they have found a vaccine for the coronavirus. Though not a complete cure, their drug could shorten the period during which patients with the virus could infect others, thus limiting the spread of the disease.
An asset that has been doing particularly well this week on stock markets, outshining everyone else, is Tesla shares. The electrical car manufacturer is doing well, hitting new sale highs, and the share value for the company reflects that. Just yesterday, Tesla shares gained a whole 15%.
The biggest loser, on the other hand, is Google’s parent company, Alphabet, whose earnings report showed it did not do as well as investors had expected. Alphabet shares dropped by 2.5%.
Note that you absolutely can trade the shares of these companies with SuperForex.
