We hope everyone had a great weekend and a very Happy Memorial Day! Today is Tuesday, May 26 and the market is up big as there is optimism about the reopening of the economy and a potential coronavirus vaccine. We also see that the NYSE trading floor is partially reopening today, treasury yields rise and college students have until June 30 to file their financial aid forms. In addition, home prices gained strength in March even while the country was shutting down due to the coronavirus.
Stock futures traded sharply higher early Tuesday to begin a holiday-shortened week, as optimism grew about the reopening of the economy and a potential coronavirus vaccine.
The New York Stock Exchange trading floor, closed since March 23, is partially reopening on Tuesday. The NYSE closed the floor two months ago due to multiple positive coronavirus tests of workers at the building. It was the first time the iconic trading floor of the Big Board was shut while electronic trading continued.
U.S. government debt prices were lower on Tuesday in a holiday-shortened week, with mounting optimism about a coronavirus vaccine driving some risk-on sentiment from investors.
This year, students may need extra help to make college a reality. Amid the coronavirus crisis and sky-high unemployment rates, less than half of families feel confident in their ability to meet the costs of higher education, according to education lender Sallie Mae.
Home prices were still gaining steam in March, as the country began shutting down in the face of the coronavirus pandemic. On a national level, prices in March rose 4.4% annually, up from 4.2% in February, according to the S&P CoreLogic Case-Shiller index.