Dow slides 200 points as spiking coronavirus cases offset economic-recovery progress – Business Insider

Dow slides 200 points as spiking coronavirus cases offset economic-recovery progress – Business Insider

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trader screensGetty Images / Mario Tama

  • US shares rose on Monday, paring earlier losses as investors serious about increasing global coronavirus circumstances and perseveredfinancial-reopening progress.
  • Gold rose, nearing its most realistic most likely level since 2012, as investors purchased the safe-haven asset.
  • Novel coronavirus circumstances maintain hit recordsdata in some US states and proceed to enhance globally.
  • Learn extra on Industrial Insider.

US shares rose on Monday, paring losses from earlier within the day, as investors weighed increasing global coronaviruses circumstances in opposition to financial-reopening progress. 

Novel circumstances maintain elevated within the US as states reopen from lockdowns that started in mid-March to have the illness. The US reported extra than 30,000 original COVID-19 circumstances on Friday and Saturday, the excellent ranges since Can also 1, in accordance with Johns Hopkins University records.

Here is the set US indexes stood at 2: 30 p.m. ET on Monday:

  • S&P 500:3,114.58, up 0.53%
  • Dow Jones industrial common:25,978.12, up 0.41% (107 sides)
  • Nasdaq composite:10,036.11, up 0.91%

Learn extra:Jefferies created a 6-step course of for locating corporations that can defend paying real dividends — and landed on these 20 global shares as ‘rock-solid’ picks

Global circumstances are also on the upward push. The World Properly being Organization stated on Sunday that original COVID-19 circumstances hit a single-day narrate. Restful, US equities maintain erased close to all their losses in present weeks, striking the S&P 500 inside of 10% of its pre-coronavirus all-time high.

Gold climbed shut to its most realistic most likely level since 2012 as investors piled into the asset amid fears of surging COVID-19 circumstances. Stocks tied to the industrial reopening maintain been mixed in early trading — airlines declined, but outlets similar to Gap received.

Technology shares led the broader market elevated later within the day, with shares of Amazon, Adobe, and Square gaining. Cease-at-house shares also rose, with Netflix, Zoom, and Peloton all notching fresh all-time highs in intraday trading. 

Traders are tranquil weighing financial records to gauge the tempo of the US financial recovery from the coronavirus-induced recession.

US existing house gross sales  in Can also slumped close to 10% to the lowest level in close to a decade, in accordance with a narrate released Monday. Restful, the Nationwide Association of Realtors thinks the records reveals the bottoming out of the market and that subsequent month gross sales will rebound. 

Oil prices slid. West Texas Intermediate indecent fell moreover-known as 1.6%, to $39.12 a barrel, while Brent indecent, the worldwide benchmark, declined 1.5%, to $41.58 per barrel, at intraday lows.

Learn extra:A 30-year market passe explains why we’re in ‘one in every of the nutsiest bubbles within the history of bubbledom’ — and warns of an ‘underwater’ financial system for the next lots of years

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