Dow gains 200 points at the open buoyed by Boeing's shares as coronavirus cases top 10 million world-wide

U.S. stock benchmarks opened higher on Monday, even as investors wrestled with rising coronavirus cases. Financial markets in the U.S. will be closed on Friday in observance of the Fourth of July holiday. Appetite for risk has been tentative in recent trade limited as coronavirus cases world-wide surpassed 10 million, with more a half-million deaths. The U.S. recorded more than 42,000 new cases Saturday, according to data compiled by Johns Hopkins University. The Dow Jones Industrial Average DJIA, +2.32% rose 208 points, or 0.8%, at 25,215, those for the S&P 500 index SPX, +1.46% climbed 0.4% at 3,020, while the Nasdaq Composite Index COMP, +1.19% traded flat at 9,748 as technology shares were under pressure. In corporate news, Boeing’s stock BA, +14.39% was providing a lift to the broader market as U.S. air-safety regulators are set to begin key flight tests on the embattled 737 MAX. Meanwhile, Chesapeake Energy Corp. CHK, -7.27% said Sunday that the oil fracking pioneer had filed for bankruptcy protection. In economic news, investors await a report on pending home sales at 10 a.m. Eastern time and at 3 p.m., the New York Fed President John Williams will talk to International Monetary Fund Managing Director Kristalina Georgieva.

Read More Here...

Bookmark the permalink.

Comments are closed.