Australia  

Dow surges 1,000 points

Video Credit: Reuters Studio - Duration: 01:08s - Published
Dow surges 1,000 points

Dow surges 1,000 points

U.S. stocks staged a frantic, across-the-board rally Monday, lifted by hopes that the coronavirus outbreak could soon level off in some hard-hit areas.

Fred Katayama reports.

0
shares
ShareTweetSavePostSend
 

Dow surges 1,000 points

A frantic rally at the market open Wall Street Monday.

The Dow shot up more than 1000 points boosted by hopes that the coronavirus outbreak could soon level off in the hardest hit areas.

Defensive sectors like utilities and consumer staples led the rally, lifting the blue chip index 5% in early trading.

The S&P 500 and Nasdaq jumped more than 4%.

Interest-sensitive bank stocks Citigroup, Bank of America and JPMorgan Chase were among the big gainers, tracking the rise in Treasury yields.

Separately, JPMorgan Chase CEO Jamie Dimon wrote in his annual letter to shareholders that he sees a "bad recession" in 2020.

Zoom didn't participate in the rally, dropping sharply.

Shares of the videoconferencing app fell on security concerns and increased competition from deep-pocketed rivals.

Despite the market rebound, analysts warned against saying the steep sell-off was over.

During the 2007-2008 financial crisis, the S&P 500 took months to establish a bottom.




You Might Like


Tweets about this

spxindex

spxindex​.​com Dow surges 350 points on hope of economy reopening, closes above 24,000 https://t.co/lORbYyzeA7 $SPX 27/04/2020 11 hours ago

RavzFN

Ravz How are high elo games gonna get easy lobby’s today first is 100 points but I just lost a game with 3 storm surges like what 23 hours ago

RuffusMD

Ruffus MD RT @politicalHEDGE: Dow Jones Surges 550 Points On Coronavirus News, Earnings; Apple Breaks Out, While Tesla At Buy Point Ahead Of Earnings… 1 day ago

politicalHEDGE

Political HEDGE Dow Jones Surges 550 Points On Coronavirus News, Earnings; Apple Breaks Out, While Tesla At Buy Point Ahead Of Earn… https://t.co/qcmMNGInBH 1 day ago

stand_4_america

Free America Network Dow surges more than 400 points as positive Gilead news lifts hope for coronavirus treatment Stocks jumped https://t.co/sKdv1wX1gP 1 day ago

rollocs

Rollo CrichtonStuart @RobinWhitlock66 @eric_hawkins9 @thetimes @ofgem Not sure about those points Robin but then again I’m in no mood fo… https://t.co/L0C719VSoI 1 day ago

SteveStevethe

steve the deplorable RT @USVeteran2: Didn't @FoxNews #FauxNews have #bidendementia leading @POTUS by 8 points last week ? #FakeNews #FakePollsByFox https://t.co… 1 day ago

USVeteran2

#DrainTheSwamp Didn't @FoxNews #FauxNews have #bidendementia leading @POTUS by 8 points last week ? #FakeNews #FakePollsByFox https://t.co/sUI96yTg5S 2 days ago


Related videos from verified sources

Stocks Soar on Moderna Vaccine Optimism: What Wall Street’s Saying [Video]

Stocks Soar on Moderna Vaccine Optimism: What Wall Street’s Saying

The Dow closed 911 points higher and Moderna's stock surged 20%.

Credit: The Street     Duration: 01:52Published
Dow Closes Down Over 500 Points After Powell Speech [Video]

Dow Closes Down Over 500 Points After Powell Speech

The Dow Jones Industrial Average fell over 500 points and the S&P 500 and Nasdaq both declined as well, following less than optimistic comments from Jerome Powell Wednesday.

Credit: The Street     Duration: 00:47Published