Friday, 10 July 2020
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Dow Jumps More Than 500 Points to Start The Week as Boeing And Apple Rise
Tuesday, 30 June 2020 03:27 WIB | MARKET UPDATE |DOW JONESS & P 500SahamAS

Stocks rose sharply to start the week Monday as Wall Street cheered news on Boeing and traders shrugged off the latest surge in coronavirus cases.

The Dow Jones Industrial Average closed 580.25 points higher, or 2.3%, at 25,595.80. It was the Dow™s best day since June 5, when it soared more than 3%. The S&P 500 jumped 1.5% to 3,053.24 while the Nasdaq Composite gained 1.2% to end the day at 9,874.15.

The major averages hit their session highs just minutes ahead of the close. That late-day surge put the S&P 500 in positive territory for the month with one trading day left.

Shares of Dow-member Boeing rose 14.4% as certification flights for the Boeing 737 Max began Monday. The test is seen by investors as a critical step in Boeing™s worst-ever corporate crisis, which began in March 2019 after two crashes in five months killed 346 people.

Apple was also among the biggest contributors of gains on the Dow, climbing 2.3%. Facebook, meanwhile, closed 2.1% higher to recover from an earlier decline. The social media giant was first under pressure after more companies said they will pause advertising on its platforms. Since Friday, Starbucks, Coca-Cola and Guinness-parent Diageo all announced they will halt advertising on social media.

Source : CNBC

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