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

The US president has now said the U.S. economy cannot be allowed to stay shuttered, suggesting that it could be just weeks rather than months before the government considers allowing the economy to come up for air.

Reports are suggesting that Donald Trump has been aggressively working with his economic team on scaling back severe restrictions on the American economy because of the potential extreme impacts that massive unemployment will cause.

Although last week President Trump presented longer term plans to slow the spread of COVID-19, the president now looks in far more of a hurry and plans to normalise the economy as soon as possible.

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 country with the economy closed down,”

Cuomo said Monday morning.

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

Boeing Stock Price

Investors have now started showing some interest in buying beaten-down stocks. For instance, Goldman Sachs upgraded Boeing stock to buy following a 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% drops during the COVID-19 influenced 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.