Stocks are pushing higher in early trading on Wall Street, joining a worldwide upturn headlined by the best day for Chinese stocks in nearly five years.
Stocks are pushing higher in early Monday trading on Wall Street, joining a worldwide upturn headlined by the best day for Chinese stocks in nearly five years.
These are the latest buoyant moves for markets, where investors are focusing more on recent improvements in the job market and on all the stimulus central banks and governments are supplying than on how damaged the economy remains. Investors are also continuing to sidestep the mounting number of known coronavirus infections, at least for now.The worry is that if the pandemic keeps worsening, with hotspots stretching across the U.S.
Stocks whose profits are most closely tied to the strength of the economy led the way Monday. Financial stocks in the S&P 500 rose 2.4% for the biggest gain among the 11 sectors that make up the index. A stronger economy would mean fewer people defaulting on their loans, and Comerica rose 5.2%, while Regions Financial added 4.3%.Berkshire Hathaway, led by famed bargain hunter Warren Buffett, has agreed to buy Dominion Energy’s unit that moves and stores natural gas.
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