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Stock market news today June 16, 2020

Stock market news

The US stock market today opened higher and as of 10:55 AM, on Tuesday, June 16, 2020, all major stock indices have gains of more than 1%. The latest stock market update is as follows:

S&P 500: 3,107.13,+40.54(+1.32%)
Dow 30: 26,146.28,+383.12(+1.49%)
Nasdaq: 9,844.85,+118.83(+1.22%)
Russell 2000: 1,460.93,+41.32(+2.91%)

Source: Yahoo Finance

News today that make the stock market move higher

Two key factors push stocks higher today:

  • Record retail sales jump
  • Reports of more economic stimulus

Retail sales beat estimates

“Retail sales jumped by a record 17.7% in May over April, coming in at more than double the consensus estimate for a rise of 8.4%. This followed a record 14.7% plunge in retail sales in April, with the reversal suggesting consumer spending was picking back up as businesses began to reopen in May.”

Another $1 trillion infrastructure package to support the US economy

“Reports of additional stimulus from the Trump administration in the form of a $1 trillion infrastructure package, along with hopes that a common drug could help treat coronavirus patients, also helped catalyze the rally.”

Source: https://finance.yahoo.com/news/stock-market-news-live-june-16-2020-222206832.html

The economic news today is a catalyst for a stock market rally. Small-cap stocks outperform today, the Russell 2000 index has gains of more than 2.5%. Stock market open.

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