Stocks Point to Edge Higher after a Huge Gain in Wall Street as the Pandemic Slows Down

The Stock Exchange of Thailand (SET) Index pointed to open higher after a huge gain in Wall Street over the night as the coronavirus outbreak in the U.S. showed signs of easing and Bernie Sanders dropped out of the 2020 presidential race.

 

In the regional market, Nikkei slipped 0.52% in the morning session, SSEC gained 0.37%, HSI rose 0.47%, ASX 200 hiked 1.34% and Kospi increased 0.64%.

Yesterday, Dow Jones closed at 23,433.57, jumped 780 points or 3.44%. S&P 500 rose 3.41% and Nasdaq advanced 2.58%.

 

The White House health advisor, Dr. Anthony Fauci, said on Wednesday that coronavirus deaths will continue to climb in the U.S. this week, where the White House expected to be its peak while the rate of hospitalizations have slowed down. He also said that the U.S. should be seeing a beginning of a turnaround after this week.

“So, we need to keep pushing on the mitigation strategies because there is no doubt that that is having a positive impact on the dynamics of the outbreak,” said Dr. Fauci. “Now is not the time to pull back at all. It’s the time to intensify.”

 

As for the presidential race in November 2020, Bernie Sanders has officially dropped out of the race, setting a stage for the current U.S. President Donald Trump and former Vice President Joe Biden.

Senator Sanders announced his move in a conference call with staff after suffering losses against his rival Joe Biden. Meanwhile, the outbreak of coronavirus also slowed down his campaign for his race. However, Sanders did not explicitly endorse Biden for the presidential election.