Tuesday, June 25, 2024
Home > Uncategorized > Here’s what happened to the stock market on Monday

Here’s what happened to the stock market on Monday


At times of market turbulence, investors tend to flee to assets expected to either retain or increase in value — such as gold, the Japanese yen and government bonds.

Drew Angerer | Getty Images

Dow Jones Industrial Average jumps 1,293 points

The Dow gained 1,293.96 points, or 5.09%, to close at 26,703.32. The S&P 500 climbed 4.58% to 3,089.39. The Nasdaq Composite advanced 4.49% to 8,952.16. Monday’s rally recovered some of the sharp losses seen last week.

Will the rebound hold?

While the major averages staged a strong upside move on Monday, some market experts think downside volatility may return as news around the coronavirus show little signs of improving. More than 89,000 have been confirmed worldwide while deaths total more than 3,000. In the Seattle area, officials confirmed three new deaths, bringing the U.S. total to more than five. Overall, U.S. cases now total more than 90. Experts skeptical of Monday’s bounce also pointed out the economic data out of China was dismal. Bottom line: Don’t be surprised if Monday’s rally is short-lived.

Apple jumps on upgrade, Amazon climbs

Apple shares jumped 9.31% after an analyst at Oppenheimer upgraded the tech giant, calling the iPhone maker a “recurring revenue machine.” Amazon also contributed to the gains, advancing 3.73%.

What happens next?

Super Tuesday takes center stage as investors look for clarity on who will be the Democratic presidential nominee. Target, Kohl’s and Nordstrom will report earnings on Tuesday.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *