How major US stock indexes fared Monday

How major US stock indexes fared Monday

How major US stock indexes fared Monday

Major stock indexes erased much of their early losses, leaving the market mixed at the end of trading Monday.

The Dow Jones Industrial Average rose 135 points, or 0.6%, to 24357 shortly after the opening bell.

Earlier, Asian markets were supported somewhat by the Chinese central bank's promise to use "more powerful" policies to support economic recovery and job creation.

"The U.S. government is able to issue large amounts of debt cheaply, and should do so to support the economy", he added.

Shares fell Tuesday in Asia as worries over fresh outbreaks of coronavirus cases overshadowed hopes over reopening economies.

Technology and healthcare shares provided the biggest lift to all three major United States stock indexes and led the tech-heavy Nasdaq to its sixth consecutive advance.

The Nasdaq Composite finished the day off 0.78% higher at 9,192, meaning it is now only 6% from it's all-time high and is 38% from its 52 week low. Annual consumer inflation slowed down to 0.3%, the smallest increase since 2015. That marked the largest monthly decline in the index since December 2008. "This one goes back to 1957".

Noxubee County High School celebrates graduating seniors
Riverside University High School valedictorian Arlinda Yang said this is not an ideal situation, but she will make the most of it. Each graduate will be given four tickets for guests, and tickets will be required for entry, school officials said.

New York Gov. Andrew Cuomo said Monday the state's restrictions on certain low-risk businesses and activities will lift on Friday.

She also said market sentiment was likely dented by congressional testimony from respected infectious disease expert Anthony Fauci who warned about reopening the economy too fast. He is expected to declare that reopening too fast would cause "needless suffering and death".

The U.S. state of NY will end its statewide closure on May 15 by reopening three regions where the COVID-19 pandemic has shown signs of mitigation, Governor Andrew Cuomo said on Monday. They often fall more than the rest of the market when the economy is expected to struggle, in part due to their more limited financial resources.

Investors are concerned about a resurgence of coronavirus infections and a flare-up of trade tension between China and its trading partners including the US, according to Rob Mumford, an investment manager for emerging-market equities at GAM Investments.

The National Federation of Independent Business Small Business Optimism Index fell 5.5 points to 90.9 in April. Its revenue dropped even more than than Wall Street expected. Stocks that would benefit most from reopening led the losses in pre-market trading including airlines, retailers, cruise lines and casinos. Meanwhile, the Federal Reserve said a facility created to purchase eligible corporate debt from investors will launch today.

Elsewhere overseas, in Tokyo, the Nikkei 225 gained 1.1%, while in Hong Kong, the Hang Sang index advanced 1.5%. As a counterpoint, many analysts would be quick to argue "the stock market is not the economy", but surely a vast majority would concede it is heavily based on economic productivity. Data from Germany's public health agency also indicated coronavirus cases in the country are once again on the rise following recent steps to ease lockdown measures.

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