Wall Street is off to another great start on Tuesday, with the Dow Jones Industrial Average hitting a gain of over 300 points within the first ten minutes of the opening bell. The S&P 500 Index (SPX) is up by 1.26%, and the NASDAQ Composite Index is up by a modest 0.73 points.
Lockdown restrictions to be lifted on April 30
US Citizens are eagerly waiting for the lifting of the restriction from many of the states on April 30. The excitement and hope could be seen in the Financial markets with the major US indices opening higher on the second day of the week.
Stocks that are in focus are:
- 3M is up by more than 4.54% and is currently trading at $160.38
- The credit card company, American Express, is up by 4.02%.
- Aircraft maker, Boeing, already gained 4.70%.
- In the broader S&P 500 Index (SPX), Harley Davidson is the top gainer after rising about 12.48%.
Lockdown restrictions deeply hurt several sectors:
- The food and hospitality industry has come to a standstill.
- Businesses engaged in Manufacturing had to close down.
Now, with the possibility of work resuming after April 30, the manufacturing industries and the millions of staff associated are super excited.
BTCUSD continues to remain below $7,800
BTCUSD Chart, Source: TradingView.com
Bitcoin does not seem to be copying the equity markets currently. This trend is unusual because BTCUSD cloned the Dow’s move since the past few weeks.
Let us take a look at the fifteen-minute chart for BTCUSD to understand it better. It can be observed that Bitcoin’s volatility has also decreased significantly. It is a good sign as it suggests that investors are patient and not vigorously reacting to the stock markets. Before the upcoming halving in May, this calm phase might be precisely the need of the hour for BTCUSD.
