Wednesday, 15 July 2020
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Dow climbs 200 points at open but U.S. stock market set to book weekly loss amid recession jitters

Stocks opened higher Friday but Wall Street was still on track for weekly losses, as U.S. Treasury yields recovered from multiyear low and investors track U.S.-China trade negotiations.

The Dow Jones Industrial Average gained 210 points, or 0.8%, at 25,789, and the S&P 500 index climbed 0.9% at 2,873, while the Nasdaq Composite Index advanced 0.8% to 7,845.

Investing has been dominated by concerns about the health of the global economy, with an inversion of the yield curve, where short-term rates rise above their longer-term counterparts, heightening those concerns. The so-called yield-curve inversion, as the condition is referred, has coincided with economic recessions.

Worries about progress in trade talks between the U.S. and China also has been a key focus for investors, with little progress achieved. For the week, the Dow was on track to lose 2%, the S&P 500 index was set to decline by 1.6%, while the Nasdaq has given up 1.4% thus far this week.

Source : MarketWatch

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