{"id":570314,"date":"2020-03-26T04:11:50","date_gmt":"2020-03-26T04:11:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/global-stocks-see-second-consecutive-day-of-gains-on-bailout-hopes\/"},"modified":"2020-03-26T04:11:50","modified_gmt":"2020-03-26T04:11:50","slug":"global-stocks-see-second-consecutive-day-of-gains-on-bailout-hopes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/global-stocks-see-second-consecutive-day-of-gains-on-bailout-hopes\/","title":{"rendered":"Global stocks see second-consecutive day of gains on bailout hopes"},"content":{"rendered":"

<\/a> Global stocks see second-consecutive day of gains on bailout hopes: <\/strong>Global equity markets continued Tuesday\u2019s rally yesterday on hopes that US lawmakers would soon pass a record-breaking USD 2 tn bailout and news that EU leaders would open discussions on a \u201cMarshall Plan-like\u201d economic rescue package.<\/p>\n

US equities saw their first two-day rally since February<\/strong> as investors gained confidence that senators were closed to an agreement over the largest bailout in US history. The Dow Jones has had its best two-day run since 1987, rising 2.4% during trading yesterday after a Tuesday blitz that saw it climb 11.37% \u2014 its best day since 1933. The S&P 500, meanwhile, finished 1.15% in the green after climbing 9.38% on Tuesday, its best two-day rally since November 2008. \u201cThe agreement of a USD 2 tn stimulus can help cushion the blow to the economy, but we don\u2019t think that it\u2019s all systems go for risk assets,\u201dsaid Mark McCormick,<\/a> global head of FX strategy at TD Securities. \u201cAt least the path ahead will be choppy.\u201d<\/p>\n

Last minute hurdles delay stimulus measures:<\/strong> Stocks gave up some of the gains late in the session after several GOP lawmakers raised a last minute objection<\/a> to a provision of the bill that would increase unemployment benefits, claiming that it would encourage businesses to fire workers and employees to seek redundancies. In response, progressive senator Bernie Sanders threatened to block the legislation to push for more restrictions on the USD 500 bn fund allocated to bailout corporate America.<\/p>\n

A sea of green on European indices as stimulus momentum grows:<\/strong> European stocks also extended their gains yesterday as EU leaders said<\/a> that talks would begin today over a Marshall Plan-esque package that would provide an \u201cexit strategy, a comprehensive recovery plan and unprecedented investment\u201d to drag the continent out of the crisis. Nine eurozone countries are also calling for the EU<\/a> to issue joint European \u2018coronabonds\u2019 to provide \u201cstable long-term financing for the policies required to counter the damages caused by this pandemic.\u201d<\/p>\n

With cases and lockdowns multiplying by the day, let\u2019s not call the bottom just yet:<\/strong> \u201cI just think these markets got a bit overexcited [on Tuesday],\u201d Craig Erlam, senior market analyst at OANDA told MarketWatch<\/a>. \u201cObviously, a USD 2 tn stimulus plan is huge. I feel like all of these stimulus measures, monetary and fiscal could turbo-charge a recovery when it happens, but I think any sustainable recovery in markets will be hard pushed when we\u2019re still seeing increasing lockdowns, increasing numbers of cases and deaths at a faster rate,\u201d he said.<\/p>\n

enterprise<\/a><\/p>\n

Oil prices posted slight gains despite US data showing the pandemic weighing on demand.<\/strong> US crude rose 2.3% to USD 24.56\/bbl and Brent gained 1.5% to close at USD 27.55\/bbl as data from the US Energy Information Administration showed that demand for fuel fell by 1.2 mn b\/d over the past week.<\/p>\n

US intervenes in Saudi-Russia oil price war to halt market slide: <\/strong>Washington is pressuring Saudi Arabia to scale back its plans to dump record amounts of oil on the record after its price war with Russia sent crude prices plunging to multi-decade lows, Bloomberg reports<\/a>. Secretary of State Mike Pompeo urged Saudi Crown Prince Mohamed bin Salman to \u201crise to the occasion and reassure global energy and financial markets\u201d at a time when the covid-19 pandemic is threatening much of the world with deep recession.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global stocks see second-consecutive day of gains on bailout hopes: Global equity markets continued Tuesday\u2019s rally yesterday on hopes that US lawmakers would soon pass a record-breaking USD 2 tn bailout and news that EU leaders would open discussions on a \u201cMarshall Plan-like\u201d economic rescue package. US equities saw their first two-day rally since February […]<\/p>\n","protected":false},"author":1,"featured_media":570315,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4865,82,102,107,104,93,72,164,7192,119,180,127,2380,117],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-bailout","tag-bonds","tag-capital-markets","tag-covid-19","tag-economy","tag-energy","tag-enterpriseam","tag-equities","tag-eu","tag-financial-markets","tag-legislation","tag-politics","tag-speed-round","tag-us","wpautop","entry"],"acf":{"mongo_id":"b415ab07-c5f7-4878-8540-32d3b411da07","is_powered_by":true,"section_story_id":"17de7040-c999-4a83-a314-fbbab09d3dcf","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/3\/304.jpg","photo_position":"above","related_issue":[570303],"teaser":"","voice_url":""},"yoast_head":"\nGlobal stocks see second-consecutive day of gains on bailout hopes - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/26\/global-stocks-see-second-consecutive-day-of-gains-on-bailout-hopes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global stocks see second-consecutive day of gains on bailout hopes\" \/>\n<meta property=\"og:description\" content=\"Global stocks see second-consecutive day of gains on bailout hopes: Global equity markets continued Tuesday\u2019s rally yesterday on hopes that US lawmakers would soon pass a record-breaking USD 2 tn bailout and news that EU leaders would open discussions on a \u201cMarshall Plan-like\u201d economic rescue package. 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admin","date":"10 May 2020","format":false,"excerpt":"The government has deployed just EGP 40 bn of the EGP 100 bn earmarked by the government to protect the economy against the covid-19 pandemic, Finance Minister Mohamed Maait said on Thursday, suggesting it has resources left to help cushion the blow to the economy. Some EGP 5.1 bn has\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570732,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/13\/house-looks-to-resurrect-tithe-on-bank-profits-to-support-industry-fund-separate-levy-would-create-emergency-bailout-fund\/","url_meta":{"origin":570314,"position":2},"title":"House looks to resurrect tithe on bank profits to support industry fund; separate levy would create emergency bailout fund","author":"enterpriseam admin","date":"13 April 2020","format":false,"excerpt":"LEGISLATION WATCH- Remember that proposed tithe on bank profits to endow an industry development fund? Legislators want to resurrect it. The House Economic Committee has proposed setting up two new banking sector funds \u2014 one effectively a deposit insurance and emergency bailout fund, the other a controversial industry development fund\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625949,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/27\/sahar-damaty-joins-union-capital-to-manage-idle-factory-bailout-fund\/","url_meta":{"origin":570314,"position":3},"title":"Sahar Damaty joins Union Capital to manage idle factory bailout fund","author":"enterpriseam admin","date":"27 August 2018","format":false,"excerpt":"MOVES- Former Banque Misr Deputy Chair Sahar Damaty was tapped to join Union Capital to manage its EGP 150 mn bailout fund for idle small- and mid-sized factories.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625359,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/02\/fra-establishes-an-insurance-industry-bailout-fund\/","url_meta":{"origin":570314,"position":4},"title":"FRA establishes an insurance industry bailout fund","author":"enterpriseam admin","date":"2 August 2018","format":false,"excerpt":"FRA establishes an insurance industry bailout fund: The board of the Financial Regulatory Authority (FRA) has approved the establishment of a bailout fund for the insurance industry, Al Mal reports. The fund will pay off policy holders in the event that the underwriter is unable to do so, according to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569654,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/03\/global-stocks-rebound-on-stimulus-hopes\/","url_meta":{"origin":570314,"position":5},"title":"Global stocks rebound on stimulus hopes","author":"enterpriseam admin","date":"3 March 2020","format":false,"excerpt":"Global stocks rebound on stimulus hopes: US stocks surged yesterday on hopes that central banks around the world will launch coordinated monetary stimulus in response to the covid-19 outbreak. The Dow Jones jumped more than 5%, the S&P 500 rose 4.6% and the Nasdaq 4.5% as it emerged that G7\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=570314"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570314\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570315"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570314"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570314"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}