The Dow Jones Industrial Average was up 1.3%, over 350 points, on Friday, while the S&P 500 rose 1.6% and the tech-heavy Nasdaq Composite gained 2.3%.
With only three days of trading left in September, all three major averages are on track to post their first monthly losses since March, when the stock market hit a low point in the midst of coronavirus shutdowns. Big Tech stocks, which have been the main source of the market’s sell-off in September, recovered somewhat on Friday: Shares of Apple rose more than 3%, while Amazon, Microsoft, Netflix and Facebook were up over 2%.from Barclays analysts, who said it was time to buy cruise stocks again: Royal Caribbean Cruises was up nearly 8%, Carnival over 9% and Norwegian Cruise Line over 13%.
Ongoing uncertainty over the next round of fiscal stimulus from Congress, however, continued to weigh on market sentiment: Lawmakers have been stuck in a stalemate for months over the size and provisions of the next coronavirus relief package.worth around $2.4 trillion that they could vote on as soon as next week if an agreement is not reached with Republicans .
Curious about what the stockmarket is, how it works and what stocks are? When does it rise and fall? What are bull and bear markets? What underlies a market crash? 👇
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Source: BusinessInsider - 🏆 729. / 51 Read more »