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fter the extended weekend, stock markets are back and running.

The weekend brought a decline in Coronavirus new cases in New York and Europe.

OPEC+ countries agreed to the biggest production cut of oil in history, slashing 10% of the global supply.

Some European countries are planning reopening of their economies by the end of this month and most countries are talking about May as a very possible restart.

The markets are slightly negative following all of this news.

Asia was down, with Chinese markets losing around -0.5%, South Korea down -1.9% and Japan leading the decline, down -2.33%.

European markets are not open today, as most of Europe has Monday off as well for the Holiday weekend.

US stock futures were down over 2% during the night, but have reversed in the last three hours. At this time 8 15AM ET, all major indexes are slightly negative, -0.3%.

Oil is hovering around 23$ after the news hit. Overnight it has gone to a high of 24.5$ and to a low of 22$. At 23$ it is neutral compared to Thursday’s close, with the production cut deal not affecting the price to the upside.