U.S. stock futures were up across the boards as the markets opened up Tuesday morning. We had the Dow Jones up .6% followed closely by the S&P 500 and Nasdaq 100 at .52% and .54% respectively. A lot of this recent run has been fuelled by big tech companies, in fact, the Nasdaq is only 2.7% away from its all-time high that was reached on Feb 19. As the country slowly continues to re-open we are finally starting to see the signs of the curtain lifting. Manufacturing activity data was released on Monday showing that activity had risen for the first time since January. A great sign to say the least.
In coronavirus news, the daily number of cases is starting to tail off which is a welcome sign. Worldwide cases have climbed to 6.3 million and U.S. cases have climbed to 1.8 million cases. Potentially the most encouraging sign or proverbial light at the end of the tunnel is that the number of tests has gone way up, and cases are still going down. The economy is opening up, the stock market is rallying back, and cases are down. All good news during these trying times.
I would also be remiss to not mention the civil unrest and ongoing protests in the wake of the horrendous George Floyd situation. We stand with our fellow Americans and support everybody’s right to protest. We also wish safety upon everybody involved.