The Nasdaq closed at a record high, confirming a bull market began on March 23 as expectations for a swift recovery increased
Rising technology and communication stocks have driven gains in the Nasdaq, which confirmed a new bull market just 16 weeks after coronavirus fears crushed stocks and pushed the U.S. economy into recession.
Stocks added to gains late in the session after the U.S. Federal Reserve eased the terms of its “Main Street” lending program. The Dow Jones Industrial Average rose 461.46 points, or 1.7%, to 27,572.44, the S&P 500 gained 38.46 points, or 1.20%, to 3,232.39 and the Nasdaq Composite added 110.66 points, or 1.13%, to 9,924.75.
FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson/File Photo
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market live Monday: S&P 500 goes positive for the year, Dow up 450, Nasdaq new highU.S. markets continued to grow as optimism mounts over a recovering economy. Here's four experts on what's behind the rally.
Read more »
Nasdaq hits record high as U.S. recession becomes officialOn the same day that the Nasdaq marked a new bull market, the U.S. economy was officially declared to be in a recession. The two milestones on Monday illustrate how an 11-week surge in stocks has occurred despite widespread economic devastation fueled by the coronavirus pandemic.
Read more »
China's online grocery platform Dada debuts on the Nasdaq, calls for greater scrutiny on marketsChinese grocery delivery company Dada is confident it can stand up to U.S. scrutiny as a newly listed company in New York.
Read more »
Nasdaq Overtakes NYSE in Coronavirus-Era IPOsNasdaq has edged past the NYSE in IPOs this year as the coronavirus pandemic has curtailed activity and reined in celebrations of corporate debuts on the NYSE’s historic trading floor.
Read more »
Nasdaq surpasses NYSE in IPO activity after triumphant start to June | Markets InsiderThe Nasdaq exchange overtook the New York Stock Exchange in year-to-date IPO fundraising last week after colossal debuts from Warner Music Group...
Read more »
U.S. Stocks Rally; Nasdaq Hits RecordThe Dow rose as investors continued to assess the pace of the economic recovery. The technology-laden Nasdaq Composite index hit its first record close since February, and the S&P 500 finished in positive territory for the year.
Read more »