NEW YORK: Wall Street stocks finished mixed on Monday as markets weigh hopes about reopening the economy against worries over coronavirus cases and the damage already inflicted by the shutdowns.Advertisement
Most US states have moved to reopen parts of their economy even as the national death toll approaches 80,000. There is expected to be some increase in COVID-19 cases in Georgia, Texas and other states that have moved more quickly to resume activity, but officials hope any increase will be manageable and will not require restrictions to be revived."Investors continue to look past the current state of the economy and toward the prospects of activity resuming," said TD Ameritrade Institutional's trading specialist Mike Turvey.
Economic reports include data on consumer prices and retail sales, as well as another weekly report on jobless claims. Initial claims have spiked in unprecedented fashion over the last two months after hotels, shops and businesses were shuttered nationwide, although the pace has slowed from the peak.