Dow Makes Late-Dash Higher as Wave of Tech Buying Continues

Investing.com – The Dow rallied as late-buying swept through Wall Street Wednesday, led by tech as investors continue to shrug off rising Covid-19 cases.   

The S&P 500 gained 0.79%, while the Nasdaq Composite gained 1.44% to close at a record high, and the Dow Jones Industrial Average rose 0.69%.

Coronavirus cases in the U.S. have topped three million weeks after reaching two million, driven by the rapid spread of the virus in Florida, California and Texas.

The resurgence of the virus has reined in the paced of the economic recovery seen in the previous weeks as some states pause or roll back reopening plans, prompting investors to pull their bets on sectors tied to the progress of the economy.

United Airlines (NASDAQ:UAL) pared intraday to end higher after announcing it would cull 36,000 workers, or nearly half of its workforce, when Cares Act funding runs out on Oct. 1.

American Airlines (NASDAQ:AAL), and Delta Air Lines (NYSE:DAL) also ended above the flatline. 

St. Louis Federal Reserve Bank President James Bullard, however, calmed some fears about the threat the surge in coronavirus cases poses to the economy and the rapid pace of rehiring seen over the past two months.

U.S. unemployment will likely fall to below 8%, or maybe even 7% by the end of the year, Bullard said in an interview on CNBC, estimating that most employees would be recalled to their jobs in the next 90 days.

A surge in tech stocks powered the broader market higher.

Apple (NASDAQ:AAPL) closed at all-time highs as Wall Street continued to back the stock on signs of a strong rebound in sales.

Deutsche Bank (DE:DBKGn) analyst Jeriel Ong raised his price target on Apple to $400 from $380, and maintained a buy rating on the stock, citing “prospects of a V-shaped recovery in Apple sales,” and App Store revenue strength.

Twitter (NYSE:TWTR), surged

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Dow Makes Late-Dash Higher as Wave of Tech Buying Continues

Investing.com – The Dow rallied as late-buying swept through Wall Street Wednesday, led by tech as investors continue to shrug off rising Covid-19 cases.   

The S&P 500 gained 0.79%, while the Nasdaq Composite gained 1.44% to close at a record high, and the Dow Jones Industrial Average rose 0.69%.

Coronavirus cases in the U.S. have topped three million weeks after reaching two million, driven by the rapid spread of the virus in Florida, California and Texas.

The resurgence of the virus has reined in the paced of the economic recovery seen in the previous weeks as some states pause or roll back reopening plans, prompting investors to pull their bets on sectors tied to the progress of the economy.

United Airlines (NASDAQ:UAL) pared intraday to end higher after announcing it would cull 36,000 workers, or nearly half of its workforce, when Cares Act funding runs out on Oct. 1.

American Airlines (NASDAQ:AAL), and Delta Air Lines (NYSE:DAL) also ended above the flatline. 

St. Louis Federal Reserve Bank President James Bullard, however, calmed some fears about the threat the surge in coronavirus cases poses to the economy and the rapid pace of rehiring seen over the past two months.

U.S. unemployment will likely fall to below 8%, or maybe even 7% by the end of the year, Bullard said in an interview on CNBC, estimating that most employees would be recalled to their jobs in the next 90 days.

A surge in tech stocks powered the broader market higher.

Apple (NASDAQ:AAPL) closed at all-time highs as Wall Street continued to back the stock on signs of a strong rebound in sales.

Deutsche Bank (DE:DBKGn) analyst Jeriel Ong raised his price target on Apple to $400 from $380, and maintained a buy rating on the stock, citing “prospects of a V-shaped recovery in Apple sales,” and App Store revenue strength.

Twitter (NYSE:TWTR), surged

Read More Here...

Dow Makes Late-Dash Higher as Wave of Tech Buying Continues

Investing.com – The Dow rallied as late-buying swept through Wall Street Wednesday, led by tech as investors continue to shrug off rising Covid-19 cases.   

The S&P 500 gained 0.79%, while the Nasdaq Composite gained 1.44% to close at a record high, and the Dow Jones Industrial Average rose 0.69%.

Coronavirus cases in the U.S. have topped three million weeks after reaching two million, driven by the rapid spread of the virus in Florida, California and Texas.

The resurgence of the virus has reined in the paced of the economic recovery seen in the previous weeks as some states pause or roll back reopening plans, prompting investors to pull their bets on sectors tied to the progress of the economy.

United Airlines (NASDAQ:UAL) pared intraday to end higher after announcing it would cull 36,000 workers, or nearly half of its workforce, when Cares Act funding runs out on Oct. 1.

American Airlines (NASDAQ:AAL), and Delta Air Lines (NYSE:DAL) also ended above the flatline. 

St. Louis Federal Reserve Bank President James Bullard, however, calmed some fears about the threat the surge in coronavirus cases poses to the economy and the rapid pace of rehiring seen over the past two months.

U.S. unemployment will likely fall to below 8%, or maybe even 7% by the end of the year, Bullard said in an interview on CNBC, estimating that most employees would be recalled to their jobs in the next 90 days.

A surge in tech stocks powered the broader market higher.

Apple (NASDAQ:AAPL) closed at all-time highs as Wall Street continued to back the stock on signs of a strong rebound in sales.

Deutsche Bank (DE:DBKGn) analyst Jeriel Ong raised his price target on Apple to $400 from $380, and maintained a buy rating on the stock, citing “prospects of a V-shaped recovery in Apple sales,” and App Store revenue strength.

Twitter (NYSE:TWTR), surged

Read More Here...

Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks were up slightly Wednesday in the last hour of trade, but well off their best levels, as investors monitor an acceleration of coronavirus infections in the U.S. that could undermine the strength of the economic rebound.

How are benchmarks performing?

The Dow Jones Industrial Average DJIA, +0.68% rose 61 points, or 0.2%, to 25,948, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 11 points, or 0.4%, to 3,157. The Nasdaq Composite COMP, +1.43% added 101 points, or 1%, to 10,449.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

What’s driving the market?

Equity markets were holding on to modest gains Wednesday as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s chief investment strategist, told MarketWatch. Although, Bell also expects the approaching corporate earning season to provide reason for optimism, if only by showing the worst damage from the crisis

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Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.

How did benchmarks perform?

The Dow Jones Industrial Average DJIA, +0.68% rose 177.10 points, or 0.7%, to end at 26,067.28, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 24.62 points, or 0.8%, to finish at 3,169.94. The Nasdaq Composite COMP, +1.43% added 148.61 points, or 1.4%, closing at a fresh 10,492.50 record, it’s 25th of the year.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

Year-to-date the Dow is down 8.66%, the S&P 500 down 1.88% but the Nasdaq Composite is up 16.94%.

What drove the market?

Equity markets booked gains Wednesday, even as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s

Read More Here...

Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.

How did benchmarks perform?

The Dow Jones Industrial Average DJIA, +0.68% rose 177.10 points, or 0.7%, to end at 26,067.28, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 24.62 points, or 0.8%, to finish at 3,169.94. The Nasdaq Composite COMP, +1.43% added 148.61 points, or 1.4%, closing at a fresh 10,492.50 record, it’s 25th of the year.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

Year-to-date the Dow is down 8.66%, the S&P 500 down 1.88% but the Nasdaq Composite is up 16.94%.

What drove the market?

Equity markets booked gains Wednesday, even as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s

Read More Here...

Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.

How did benchmarks perform?

The Dow Jones Industrial Average DJIA, +0.68% rose 177.10 points, or 0.7%, to end at 26,067.28, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 24.62 points, or 0.8%, to finish at 3,169.94. The Nasdaq Composite COMP, +1.43% added 148.61 points, or 1.4%, closing at a fresh 10,492.50 record, it’s 25th of the year.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

Year-to-date the Dow is down 8.66%, the S&P 500 down 1.88% but the Nasdaq Composite is up 16.94%.

What drove the market?

Equity markets booked gains Wednesday, even as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s

Read More Here...

Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.

How did benchmarks perform?

The Dow Jones Industrial Average DJIA, +0.68% rose 177.10 points, or 0.7%, to end at 26,067.28, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 24.62 points, or 0.8%, to finish at 3,169.94. The Nasdaq Composite COMP, +1.43% added 148.61 points, or 1.4%, closing at a fresh 10,492.50 record, it’s 25th of the year.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

Year-to-date the Dow is down 8.66%, the S&P 500 down 1.88% but the Nasdaq Composite is up 16.94%.

What drove the market?

Equity markets booked gains Wednesday, even as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s

Read More Here...

Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.

How did benchmarks perform?

The Dow Jones Industrial Average DJIA, +0.68% rose 177.10 points, or 0.7%, to end at 26,067.28, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 24.62 points, or 0.8%, to finish at 3,169.94. The Nasdaq Composite COMP, +1.43% added 148.61 points, or 1.4%, closing at a fresh 10,492.50 record, it’s 25th of the year.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

Year-to-date the Dow is down 8.66%, the S&P 500 down 1.88% but the Nasdaq Composite is up 16.94%.

What drove the market?

Equity markets booked gains Wednesday, even as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s

Read More Here...

Dow up modestly in final hour of trade as investors focus on rising coronavirus cases, path to economic restart

U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.

How did benchmarks perform?

The Dow Jones Industrial Average DJIA, +0.68% rose 177.10 points, or 0.7%, to end at 26,067.28, after trading as high as 26,109.49 at the start of the session. The S&P 500 SPX, +0.78% climbed 24.62 points, or 0.8%, to finish at 3,169.94. The Nasdaq Composite COMP, +1.43% added 148.61 points, or 1.4%, closing at a fresh 10,492.50 record, it’s 25th of the year.

On Tuesday, the Dow tumbled 396.85 points, or 1.5%, to end at 25,890.18; the S&P 500 index shed 34.40 points, or 1.1%, closing at 3,145.32 and ending a 5-session win steak; while the Nasdaq Composite Index fell 89.76 points, or 0.9%, to finish at 10,343.89, after carving out an intraday 10,518.98 record on Monday.

Year-to-date the Dow is down 8.66%, the S&P 500 down 1.88% but the Nasdaq Composite is up 16.94%.

What drove the market?

Equity markets booked gains Wednesday, even as investors focused on the question of whether unabated increases in COVID-19 cases in a number of U.S. states would delay economic recovery.

The U.S. reported 60,000 new coronavirus cases Tuesday, a single-day record, according to data compiled by Johns Hopkins University. The seven-day average for cases is higher than the 14-day average, an indication that the spread is intensifying, according to a Wall Street Journal analysis of the publicly available health data.

“The single-day spike kind of woke some investors up,” Lindsey Bell, Ally Invest’s

Read More Here...