M

onday looks green for a second week in a row.

World markets have all rebounded today after a global slowdown of new cases from the Coronavirus during the weekend.

Japan was the biggest winner in Asia, its NIKKEI jumped 4.25% today with the Korean KOSPI close, up 3.85%. China was slightly down, -0.5%.

In Europe trading markets are still open as this article is being written at 8 AM ET. At this time all of Europe is up with British FTSE up 2%, French CAC up 3.65% and the German DAX leading the way, up 4.75%.

US futures have been up since they opened last night, spiking multiple times, after the Japanese market opened, when news from Russia hit about oil and as European markets opened. At this time all major indexes are trading in tandem up 3.5%.

Oil opened sharply down as a meeting between Russia and Saudi Arabia was delayed on Saturday, but a Russian diplomat came out saying the two countries are “very, very close to a deal”. This news regained helped regain some of the early losses and helped stocks go up as well.

The outbreak is definitely slowing down in Europe. The two most affected countries, Italy and Spain, were reporting similar numbers for most of last week, signaling a peak. This was further improved during the weekend with three straight days of less new daily cases. Yesterday New York Governor also pointed to lowering of new hospitalizations during the weekend.

All of this positive news is driving the positive move in the markets.