· Stocks rise as Wall Street turns to tech for safety amid increasing Covid-19 cases
Stocks closed slightly higher on Thursday as traders increased their exposure to major tech names amid a rising number of coronavirus cases.
The Dow Jones Industrial Average gained 44.81 points, or 0.2%, to close at 29,483.23. Earlier in the day, the Dow fell more than 200 points. The S&P 500 climbed 0.4% to 3,581.87 and the Nasdaq Composite advanced 0.9% to 11,904.71. It was the first gain for the major averages in three sessions.
Netflix and Amazon gained 0.6% and 0.4%, respectively. Alphabet rose 1%, and Microsoft closed higher by 0.6%. Apple rose 0.5% and Facebook ended the day up 0.4%.
Stocks also got a boost after Senate Minority Leader Chuck Schumer, D-NY, said Majority Leader Mitch McConnell, R-KY, had agreed to resume negotiations on new fiscal stimulus.
Dow futures fall more than 200 points as fresh virus restrictions raise concerns about recovery
Stocks futures fell in overnight trading on Thursday as rising new coronavirus cases cast doubt on a swift economic recovery.
Futures on the Dow Jones Industrial Average dropped 220 points, implying a loss of more than 200 points at Friday’s open. S&P 500 futures slid 0.7% and Nasdaq 100 futures dipped 0.3%.
Dow futures fall more than 200 points as fresh virus restrictions raise concerns about recovery
Stocks futures fell in overnight trading on Thursday as rising new coronavirus cases cast doubt on a swift economic recovery.
Futures on the Dow Jones Industrial Average dropped 220 points, implying a loss of more than 200 points at Friday’s open. S&P 500 futures slid 0.7% and Nasdaq 100 futures dipped 0.3%.
Reference: CNBC
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