U.S. equity markets soared Monday morning as the spread of COVID-19 cases showed signs of abating in the hardest-hit area.
The number of new cases over the weekend in New York City, the U.S.’s epicenter for the virus, rose by 30.4 percent versus last week, down from a 46.1 percent jump the week prior.
President Trump said at a press conference on Sunday that while there was “light at the end of the tunnel” the next two weeks are going to be difficult.
COVID-19 has infected nearly 338,000 people in the U.S. and killed 9,653, according to the latest figures provided by Johns Hopkins University & Medicine. More than 17,500 people have recovered.
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