World stocks rise on spending hopes but bounce fizzles - Reuters:
Stocks across the globe bounced back on Friday after historic drops, but hopes of more central bank stimulus and government spending went only so far and the comeback lost steam in a week of pandemic panic-selling across markets.
Volatility is expected to remain high, with sharp moves expected in both directions and across asset classes. The S&P 500 rose as much as 6.1% intraday on Friday and was last up 0.6%.
Stocks rose Friday on hopes of a coordinated stimulus package from world governments in response to the coronavirus pandemic, which threatens to slow down the global economy.
“What we’re headed for is a market that should begin to settle down (with) investors now expecting the government to get the economic plan in place and get it into law,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Stocks across the globe bounced back on Friday after historic drops, but hopes of more central bank stimulus and government spending went only so far and the comeback lost steam in a week of pandemic panic-selling across markets.
Volatility is expected to remain high, with sharp moves expected in both directions and across asset classes. The S&P 500 rose as much as 6.1% intraday on Friday and was last up 0.6%.
Stocks rose Friday on hopes of a coordinated stimulus package from world governments in response to the coronavirus pandemic, which threatens to slow down the global economy.
“What we’re headed for is a market that should begin to settle down (with) investors now expecting the government to get the economic plan in place and get it into law,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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