US Stock Market gets hype. Image Courtesy – Reuters
US Stock Markets are seeing a boom on 12th March 2020 Thursday after a record decline. The biggest reason for the boom in the US markets was that the US Federal Bank announced a trillion dollar auction by 31st March. This will solve the liquidity problem of American banks. Stocks soared Friday as Wall Street rebounded from the sharp losses suffered in the previous session since 1987 Black Monday Crash.
The Dow Jones is trading at 22540 points with a gain of 700 points. Other US markets Nasdaq Composite and S&P 500 Index are seeing a boom. Nasdaq is trading up 256 points at 7457 and S&P 500 Index up 87 points at 2567 points. The well-being of the American market also has a positive impact on the Indian market.
According to the experts, after maintaining the lead, the country’s markets can get good support in the business on Monday.
The US stock market slipped to 2352 points (10%) on the Dow Jones on Thursday night to close at 21200. The Dow Jones had slipped to the 1943 point with the opening at 8 pm on Thursday morning i.e. Indian time and had set the lower circuit.
Equities rallied to their session highs into the close after announcement of President Donald Trump that 50,000 new tests for corona virus will be available next week. He also announced that the Energy Department will purchase oil for the U.S. strategic petroleum reserve to improve crude prices.