Asian markets rose on Monday (April 19) after recovery hopes for the coronavirus-battered US economy fuelling another round of record highs on Wall Street to close last week’s trade.
Both the Dow and S&P finished at new peaks on Friday and also posted their fourth consecutive weekly gains, following on the heels of strong data for American housing starts, employment and retail sales.
Investors are banking on accelerated US pandemic containment efforts marking a step toward economic normalcy, with half of all adults in the country now having had at least one vaccine dose.
The easing of restrictions in Europe has also boosted optimism even as analysts keep a wary eye on alarming outbreaks prompted by new strains of the virus elsewhere in the world.
“Stocks will kick off the week at record highs, with investors digesting what appears to be an optimistic recovery despite mounting concerns about new Covid-19 variants,” said Stephen Innes of Axi.
