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Wall Street reached new record highs on Wednesday as investors recover appetite over coronavirus slowdown.
Technology shares led the rally that lifted three major U.S. stock averages to new highs. The S&P 500 and Nasdaq closed three consecutive highs. The Dow achieved its most recent record on Feb. 6.
New coronavirus cases in China tallied its lowest in two weeks. The epidemic could be over by April, said a senior Chinese medical adviser.
The outbreak caused worries across markets, and the World Health Organization warned that it was a global threat.
The Dow Jones Industrial Average gained 0.94%, or 274.46 points, to 29,550.8. The S&P 500 rose 0.64%, or 21.63 points, to 3,379.38. The Nasdaq Composite was up 0.9%, or 87.02 points, to 9,725.96.
351 companies in the S&P 500 reported their fourth-quarter sales. 70.9% of the companies surpassed analyst estimates. Aggregate fourth quarter sales reported to grow at 2.4%.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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