Major equity indices, oil and metals all re-bounded today on hopes that the US administration and other governments will add stimulus measures to combat the effects of the COVID19 virus on the global economy. At one point the Dow futures was +1000 points, but through the afternoon session, this recovery was trimmed. On the LME, copper made early gains above 5600 to 5650 area but faded back with equities as the day progressed. Crude oil rallied $3, but likewise, these gains were trimmed in the later sessions. Airlines continue to slash routes as demand declines, and with the virus raging in Italy, neighbouring countries have moved to close borders. Markets remained whippy through to the close, President Trump promised support for the travel industry, although the announcement was short on detail.
LME 5 pm closes were mostly up on the day but well off the early highs and at time of writing, Dow futures +170.