This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The US equities market rebounded firmly on Monday and shook off the losses suffered on Friday as sentiment soured into the end of the week.
Late last week, US tech giant Apple announced its plans to temporarily close 11 of its sites across four US states. This was in response to the recent rise in COVID-19 cases in the states in question. The news saw equities being heavily sold on Friday.
Risk sentiment had already been diluted across the week due to the increase in cases, prompting concerns that the US is on the verge of a second outbreak of the virus.
Kudlow Downplays “Second Wave” Concerns
However, White House economic adviser Larry Kudlow was quick to dismiss the idea of a second wave. Speaking with CNBC on Monday, Kudlow said:
“There is no second wave coming. It’s just hot spots. They send in CDC teams, we’ve got the testing procedures, we’ve got the diagnostics, we’ve got the PPE. And so I really think it’s a pretty good situation. Actually, I think nationwide the po...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.