Rising technology and communication stocks have driven gains in the Nasdaq, which confirmed a new bull market just 16 weeks after coronavirus fears crushed stocks and pushed the U.S. economy into recession.
Stocks added to gains late in the session after the U.S. Federal Reserve eased the terms of its “Main Street” lending program. The Dow Jones Industrial Average rose 461.46 points, or 1.7%, to 27,572.44, the S&P 500 gained 38.46 points, or 1.20%, to 3,232.39 and the Nasdaq Composite added 110.66 points, or 1.13%, to 9,924.75.
FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson/File Photo
Is it just me or the stock market closing high while millions of family economies still suffer major consequences of this crisis is just another indicator of the divide between real economy and made up market 'economy'?
WINNING Non stop winning.
Would be interesting to compare the rate stocks are going up to the rate the CPI is... inflation
I don't get it
Yay. More money for the 1%
In other words, the rich are doing fine. Truth
The stock market reflects how investors are doing, not how workers are doing. A surging market does not necessarily lead to a surging economy. At least not in the short term.
There will only be a continued recovery if all lockdowns are lifted and let people choose what risk to accept in where they travel and the businesses they patronize. Gov't lockdowns will still prevent a recovery.
The US is in a recession and has been since February.
Does this mean Trump was right about the quick recovery? No because the orange man bad.
So we're in a recession and a bull market at the same time? I'm an idiot... but it doesn't make sense to me
Sorry, progressive-socialists. 😐
Premature assessment.
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