Passengers wearing a face mask or covering due to the COVID-19 pandemic, arrive at Heathrow airport, west London, on July 10, 2020.
daniel leal-olivas/Agence France-Presse/Getty Images
Gold surged to a record and the dollar weakened Monday while European travel stocks slumped.
As U.S. lawmakers debate another round of stimulus and concerns mount about a stalling economic recovery, gold futures GOLD,
“Those seeking both safety and a decent yield, only have one real option at the moment – with Treasury yields rooted near zero, and negative in real terms, and cash earning nothing. The ‘TINA’ theory – there is no alternative – is the final factor propelling the precious metal skyward,” said Michael Brown, senior market analyst at Caxton.
The German DAX DAX,
Down 1.5% last week, the Stoxx Europe 600 SXXP,
Futures on the Dow Jones Industrial Average YM00,
Travel operator TUI TUI,
Ryanair RY4C,
“Tourism and summer activities will certainly remain a risk to be considered for European investors if mild measures, such as social distancing and the obligation to wear masks, do not prevent cases from rising. Investors fear renewed lockdowns, although any confinement measures in the close future are expected to be selective rather than a general halt in economic activity,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
SAP SAP,
AstraZeneca AZN,
