- Investors choose optimism over risk, pushing global shares, futures higher
- Dollar extends selloff, while yields and gold are flat
- Oil holds above $36
Futures for all the major US indices—the , , and —reversed higher on Tuesday, erasing earlier losses. Investors were weighing conflicting macro economic fundamentals: promises of more government liquidity and a restarting global economy versus grim economic data and continuing social unrest in the US as well as simmering trade tensions between Washington and Beijing. Optimism clearly prevailed and European shares opened markedly higher.
Oil inched up while the US dollar continued slipping.
Global Financial Affairs
Despite the worst economic data since the Great Depression and by the Fed and the IMF that the economic slump could be more severe than expected and last longer than anticipated, traders have been bidding up global stocks to three-month highs on the promise that worldwide reopenings would create a V-shape…