New post
George Ma
May 7 08:46

Wall Street is growing up amid optimism about quarantine ease

Wall Street's major indices were rising on Wednesday in hopes of increased business activity as restrictions in some states ease and despite a 20 million reduction in U.S. jobs last month.
Five of S&P's 11 major sectors are trading up, with the technology index outpacing growth as traders buy up stocks that are considered resilient under quarantine conditions.
U.S. stock indices are rising for the third session in a row, triggered by unprecedented stimulus measures and signs of reaching the peak of the coronovirus outbreak.
However, with macroeconomic data still predicting a deep global recession, analysts warn of another sell-off, especially if a second wave of the epidemic emerges in quarantine relief countries.
By 23:18 SGT on May 6 Dow Jones Industrial Average index grew by 0.02%, to 23.887.19 points, S&P 500 - by 0.12%, to 2.871.77 points, and Nasdaq Composite - by 0.99%, to 8.896.17 points.