Although there has been a rising number of cases of COVID-19 around the world, there was also reason for optimism in some of the hardest-hit countries, where the numbers of new daily diagnoses and deaths are starting to fall.

As a result, investors bucked the markets on Monday, with hotel, travel, and hospitality stocks some of the biggest gainers, including Hyatt, Marriott, TripAdvisor and Expedia.

Authorities in Spain and Italy expect that daily diagnoses and deaths will start to fall, while there are hints of a plateau in cases in New York, hardest hit of any US state.

However, this could be too early for optimism, with a deep recession still not really biting and the first dollars of federal stimulus not yet hitting people’s bank accounts.

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