- Dow futures leaped more than 600 points overnight.
- The bulls are cheering Donald Trump’s insistence that the U.S. economy will re-open in weeks, not months.
- The Dow Jones is looking at a brighter open on Tuesday despite political deadlock holding up a sorely needed fiscal stimulus package.
Dow futures jumped higher overnight, ignoring the fact that politicians in Washington have failed to agree on a fiscal stimulus plan.
Dow bulls appeared to cheer President Trump’s consideration of re-opening the U.S. economy in 15 days and letting the economy rip, whether coronavirus is contained or not.
Dow Futures Rally as Trump Rolls Dice On Coronavirus
All of the major futures indices rallied, with the Nasdaq, Dow and S&P 500 gaining around 3%.
In the commodity sector, the risk-on rally was noticeable, as crude oil moved 4.5% higher to around $25 per barrel. Deeply oversold since Saudi Arabia began a price war with Russia, the prospect of a revved up U.S. economy bodes well for the black commodity.
The price of gold continued its momentum overnight, rising 1.5%, while digital asset bitcoin jumped 10% to eclipse $6,600.
Coronavirus cases continue to climb, as the world hit 378,000 confirmed infections. The U.S. is now reporting a little over 46,000 infections.
Stock Market Faces Boom/Bust Outcome If Government Clears Restrictions
Donald Trump is genuinely considering re-opening the U.S. economy in as little as two weeks.
Floating the idea in a tweet late on Sunday, the famously unorthodox president appears to be on the verge of making his biggest gamble yet.
Despite many analysts suggesting that the economy will need to be shut down for quite a few months, it appears that Trump has lost patience.
Not only did Larry Kudlow use this same line on Fox Business, but Mike Pence also followed up on this in his daily…