After experiencing worst panic selling in the last month and wiping off almost 35% of the value from US stock markets, the short-term fundamentals have started stabilising on the back of stimulus packages, interest rate cuts and efforts for resuming the economy.

The US president says we cannot shut the economy for a longer time, suggesting it could be just a matter of days instead of weeks before the government considers allowing the economy to come up for air.

Reports are suggesting that Donald Trump has been aggressively working with the economic team on scaling back severe restrictions on the American economy because of the potential threat of massive unemployment growth.

Although last week Trump presented 15 days plan to slow the virus spread, the president now looks in a hurry and plans to normalize the economy as soon as next week.

The New York Governor Andrew Cuomo also believes that the economic blowout could make things worse in the coming days for Americans.

“It is unsustainable to run this state or run this state or this country with the economy closed down,”

Cuomo said Monday morning.

US stock market futures moved higher on prospects of returning to normal economic activity. The sell-off that begins in February close to 35% of the value from the Dow Jones Industrial average and 34% value from the S&P 500.

Boeing Stock Price

Investors have started showing interest in buying the beaten-down stocks. For instance, Goldman Sachs upgraded Boeing stock to buy following the share price loss of 70% since the beginning of this year. Stock prices of travel, airline, and oil companies have also posted more than 50% drop during the coronavirus backed selloff.

 “History suggests that the best time to buy is when the market is fearful – and the market is firmly in panic mode now,” Rebecca O’Keeffe, head of investment at interactive investor, said.