The United States’ future indexes registered a slight fall on Sunday night, pressured by the new drop in oil prices, while investors are watching the government’s plans to start the economy reopening.
At 9:45 pm, the future of the Dow Jones was down 0.3%, while the futures contracts for the S&P 500 and Nasdaq 100 were down 0.4% and 0.2%, respectively. At the same time, WTI barrel futures contracts had a drop of 5.7%, quoted at US $ 16.02.
In the news, New York Governor Andrew Cuomo said today that the state plans to reopen its economy in phases. The first, he said, would involve the construction and manufacturing sectors.
As part of the second phase, companies will need to develop plans for a reopening that includes practices of social distance and the availability of personal protective equipment. Cuomo also pointed out that hospitalizations related to the coronavirus fell for 14 days and that deaths by the virus in New York reached their lowest rate in almost a month. “As several states begin to reopen their economies and relax the rules of social distance, we will have a glimpse of what the new normal looks like,” said Marc Chaikin, CEO of Chaikin Analytics for the CNBC network.
“The biggest risk to the stock market is a premature reopening of the US economy, which would result in an increase in Covid-19 cases and will lead to an abrupt reversal of these efforts to awaken the economy,” he said.