Vaccine Hopes Cause Market Wide Boost

Vaccine Hopes Cause Market Wide Boost

Traders are feeling hopeful today after the markets saw a much-needed boost following the months of turmoil we have been experiencing. This content does not apply to US customers.

The promising market behaviour has been prompted by a trifecta of reasons. One of the these is the fact the promise of a Covid-19 vaccine, which has been the main cause of the economic downturn in recent months. However, this is not the only reason.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

The market boost was further aided by a positive US market performance after a week of drops due to unemployment fears, and the fact that the oil price is continuing to rise after previously being in a super contango market

According to eToro’s stats, “The S&P 500 closed the day 3.2% higher, led by energy, industrial and financial stocks, while the FTSE 100 gained 4.3%. Energy stocks gained 7.6% overall in the broader rally, with the energy equipment and services subsector jumping 13% and the oil, gas and consumable fuels sector up 7.1%.”

At eToro their daily report covers all these areas in-depth and is ideal to stay up to date with the latest goings-on. The trading community will be hoping for some more boost like this in the coming days and weeks if they are hoping to see a full recovery from the drastic market shifts.

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