Federal Reserve Vice Chair Richard Clarida has said that there is more policymakers can do and will do. Since then the U.S. equity markets have experienced volatility. Additionally, stock index futures, stock index options, stock options and single stock futures also expired.
Earlier stocks fell when Apple announced that it was reclosing some stores in parts of Arizona, Florida, North Carolina and South Carolina because of a increase in COVID-19 cases. NASDAQ did post a winning session but there is no denying that Amazon got hit. In response to the news Dow Jones Industrial Average fell 208 points i.e. 0.80 percent, and the S&P 500 i.e. 0.56 percent.
There was an increase in the earlier session when it was being reported that China will be increasingly purchasing U.S. farm products so that it meets the requirements of its phase 1 trade deal.
Casino operators were seeing hope after Penn National Gaming resumed operations at 31 of their 40 properties. The Belmont Stakes horse race scheduled for Saturday showed that slowly sports are also making a come back.
Airlines, cruise operators, hotels and other travel-related companies are in focus too as New York City has entered the Phase 2 of its reopening plan. The movie-theater chain AMC Entertainment has also announced plans to reopen about 450 U.S. locations on July 15. They will be using a four-phase reopening strategy trying to achieve a full seating capacity around the week of Thanksgiving.
Marathon Oil Corp. has also been in talks with Canadian convenience-store chain Alimentation Couche-Tard and others about the sale of its Speedway gas stations.