U.S. stocks posted modest gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on lifting lockdown restrictions and signs of economic recovery.
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
“That’s what the market has been reaching for lately - the battle between growth and value for leadership of the market.” “Most of the focus is on the social unrest,” Ghriskey added. “We all hope calmer heads will prevail and we will address the issues at the root of it all. But this shouldn’t have any impact on the markets.”
The Dow Jones Industrial Average rose 157.21 points, or 0.62%, to 25,632.23, the S&P 500 gained 11.65 points, or 0.38%, to 3,067.38 and the Nasdaq Composite added 8.39 points, or 0.09%, to 9,560.44. Southwest Airlines Co rose 2.6% after extending buyout and paid leaves to employees in what its chief executive called an effort to “ensure survival.”
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