Stocks rally as investors take heart on U.S. economic reopening plan
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5 Min ReadNEW YORK (Reuters) - Global stocks rallied on Friday on President Donald Trump’s plans to revive the coronavirus-hit U.S. economy and a report about a clinical trial for a potential drug to treat COVID-19, while the dollar fell amid investors’ growing risk-on sentiment. The dollar slid against the euro and Japanese yen, and gold fell as much as 2% as investors globally drew comfort from Trump’s plans to gradually re-open the U.S. economy in a three-stage approach. U.S. crude futures hit 18-year lows, trading below $18 a barrel for part of the session as WTI extended losses in comparison to global benchmark Brent, in part due to the coming expiration of the current May contract.
As said here by Herbert Lash