September 21, 2020, 21:55

Wall Street Rebounds With Record Highs After Early US Coronavirus Scare

Wall Street Rebounds With Record Highs After Early US Coronavirus Scare

NEW YORK (Sputnik) – Wall Street rebounded on Wednesday from the scare over the first US case of the novel Coronavirus, with shares linked to both the top equities and technology indexes hitting new peaks before closing higher.

The S&P 500, the leading equities index on the New York Stock Exchange, closed flat at 3,322 after hitting a record high OF 3,338. It closed down on Tuesday, despite setting a previous record, after news that a US traveller returning from China had contracted the novel Coronavirus, the world’s latest health scare.

The Nasdaq Composite also hit record highs on Wednesday. The technology-heavy index closed up 0.1 percent at 9,384, after an all-time high at 9,439.

The Dow Jones Industrial Average, Wall Street’s broadest equities barometer, closed at 29,186.

Strong economic data and a pre-election rally have helped US stocks maintain a bull run from last year.

The S&P500 is up 2.8 percent for 2020, after a 30 percent gain last year.

The Nasdaq is up 4.5 percent year-to-date. The technology sector was the darling of Wall Street investors in 2019, lifting the Nasdaq by 36 percent.

The Dow Jones Industrial Average has added 2.3 percent for 2020. It gained 23 percent in 2019.

Source: sputniknews.com

Related posts