Equity futures have been higher all morning on a combination of factors.
The world is reopening, including Italy. In addition to nations around the world reopening, there were massive protest in the UK, Germany and other nations, including the Ivory Coast, demanding a return to life and a chance to avoid economic catastrophe.
In addition, we begin the week in America with all states opened to various degrees. Some are still clamped down significantly, and many big cities mayors aren’t ready to budge.
The momentum of a global reopening is reflected in oil this morning, which has broken through a key resistance point at $30.00, and the next big test is $35.00.
Businesses are finding ways to operate as more and more reopen with new rules. Apple (AAPL) is the latest to layout plans to reopen with customers being asked to don a mask and take temperature checks.
Industries like autos are gearing up for production.
Fed Chair Jay Powell said a lot of things in a 60 Minutes interview, with the most important being there are “no limits” to what the Fed can do.
Finally. The market was up nicely all morning when Moderna (MRNA) released an update on their Covid-19 treatment that was really the best anyone could ask for and more than anyone expected.
The major indices, including the Dow, are poised to open strong enough to erase all of last week’s losses.
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