• European stocks finished session higher despite German Court ruling
• US stocks rise as several states are planning to lift restrictions
European indices finished today's trading session in the green, thanks to rising oil prices and hopes that fuel demand will increase as more countries are lifting restrictions. In the morning Germany's top court said the ECB's bond purchases scheme partially violates the constitution and raised objections to the Bundesbank's participation in it. ECB has three months to show the Public Sector Purchase Program is needed or the Bundesbank will stop its participation in it. Still, the court ruled that the ECB’s purchases of public sector debt between 2015 and 2018 were legal. DAX gained 2.5%, CAC 40 advanced 2.3 % and FTSE 100 finished 1.7 % higher.
US indices also jumped on Tuesday as a recovery in oil prices lifted battered energy stocks. The S&P 500 (US500) managed to recover about 30% of its recent losses, thanks to unprecedented stimulus measures and signs of a plateau in new COVID-19 cases in many parts of the world. "There's a growing sense that the worst for the global economy is right now, while lockdowns are in place and coronavirus treatments are unproven," "It follows that it only gets better from here as lockdowns ease and treatments are found." said Jasper Lawler, head of research at London Capital Group. However other experts have warned that recent upward movement may collapse if there is a second wave of infections and with growing evidence of the damage to the economy and corporate America.
OIL (OIL.WTI) price managed to break above major resistance level at $23.63 per barrel. Should upbeat moods prevail, resistance at $29.61 may come into play. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
