Search ForexCrunch
  • The Dow Jones Industrial Average lost 329 points, or 1.4%, to end near 23,391.
  • S&P 500 lost 1% to end around 2,762.
  • The Nasdaq Composite added 0.5% to close at 8,192.

US benchmarks were coming off their lows on Monday’s session while investors weighed the prospects of the US economy getting a kick start with US President Donald Trump’s eagerness to get the population back to work. 

The Dow Jones Industrial Average lost 329 points, or 1.4%, to end near 23,391 while the S&P 500 lost 1% to end around 2,762. The Nasdaq Composite added 0.5% to close at 8,192. Overall, it was a directionless day with European and Asian markets out for Easter celebrations on Monday, while investors tried to weigh the prospects of global growth returning in a V-shaped recovery should the curve indeed be starting to flatten in developed nations such as Europeans, the UK, Australasia and the US. 

At the same time, the OPEC+ accord is a positive for risk-appetite in the long run, although the production cut is seen as too little too late for oil prices. More on that here and here, WTI: OPEC+ has not done enough and Trump knows it.

“With the world having just experienced its second-warmest March ever, it’s true that’s a lot fewer carbon emissions, but it’s a pretty brutal way to get there. And a USD23 oil price won’t do anything to encourage alternative energy development,”

– analysts at TD Securities argued. 

DJIA levels