“Stock rose on Thursday and gained for the week, as investors cheered the resiliency of a U.S. economy that created nearly 5 million jobs last month in the throes of the raging coronavirus pandemic.
The U.S. economy added a greater than expected number of payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. The net additions in payrolls topped consensus expectations, and far exceeded ADP’s private payrolls data on Wednesday, which logged a gain of over 2.3 million jobs.
Although new unemployment insurance claims were higher than expectations, investors shrugged off the report in favor of the boom of workers returning to the labor force. The S&P 500 rose about 0.5% on Thursday to cap off an advance of 4% since market close last Friday. The Dow rose 4.6%, while the Nasdaq rose 3.25% on the week.”
“Stocks rebound as markets swing on coronavirus fears.
Stocks clawed back gains Monday, erasing early losses after the Federal Reserve signaled it would further support financial markets in the wake of the coronavirus pandemic, boosting investor confidence.
The Dow Jones industrial average climbed 157.62 points to close at 25,763.16, cutting declines after tumbling more than 700 points shortly after the opening bell. A rise in virus cases in the U.S. and China had briefly dampened investors’ optimism for a global economic recovery.
Stocks, however, added to gains after the Federal Reserve said Monday it would buy individual corporate bonds, a sign the central bank will further support credit markets during the pandemic. The Fed said earlier this year it would buy corporate bond exchange traded funds.
A rise in shares of big technology companies helped offset declines in industries that were battered by the pandemic including airlines, retailers and cruise liners.
The Standard & Poor’s 500 added 0.8% to end at 3,066.59, after finishing its worst week in nearly three months on Friday to snap a three-week winning streak. Airline, retail and cruise liners were among the biggest decliners, beaten-down stocks that had rebounded in May on hopes that the economy was recovering. United Airlines fell about 2%. Retailer Kohl’s lost 2% while shares of Carnival dropped nearly 3%.
The technology-heavy Nasdaq Composite rose 1.4% to finish at 9,726.02, helped by gains in highflying shares like Facebook and Netflix.”
The CBOE Volatility Index (^VIX) at close fell to 34.40-1.69 (-4.68%). Stock market volatility fell although the major stock indices recovered their losses and closed higher.
Urban One, Inc. (UONE) stock was among top stock gainers with a stock price at close of 6.54+4.70 (+255.43%). There was a surge in volume for UONE stock, 25,060,500 shares traded compared to the average volume of 408,234.
Edesa Biotech Inc. (EDSA): 5.80,+ 2.90 +100.00% Net Element Inc. (NETE): 6.90,+ 2.30 +50.00% Celldex Therapeutics Inc. (CLDX): 10.71,+ 2.91 +37.31%
Hertz Global Holdings Inc. (HTZ): 1.88, -0.95 -33.57% China Rapid Finance Ltd. ADR (XRF): 2.34, -0.49 -17.31% Art’s Way Manufacturing Co. (ARTW): 2.54, -0.51 -16.72%
Most active stocks
Hertz Global Holdings Inc. (HTZ): 1.88, -0.95 -33.57% American Airlines Group Inc. (AAL): 16.70, -0.04 -0.24% Genius Brands International Inc. (GNUS): 4.52, +0.36 +8.65%
“Dow plummets 1,862 points, its worst day since March, on cautionary Fed messages and 2nd-wave coronavirus fear.
US stocks tanked on Thursday as cautious commentary from the Federal Reserve and rising coronavirus infection rates prompted investor concern. All three major indexes posted their biggest single-day declines since March 16.
The Federal Reserve said on Wednesday that the pandemic could result in permanent economic damage and an extended period of high unemployment.”
“Dow Jones Industrial Average rises 527 points The Dow surged 527.24 points, or 2.05%, to close at 26,269.89. The S&P 500 gained 1.36% to end the day at 3,122.87. The Nasdaq Composite rose 0.78% to 9,682.91. Better-than-expected data sent stocks flying as traders bet the worst from the economic slowdown is in the rear-view mirror.
Data comes in better than expected ADP and Moody’s Analytics reported private payrolls fell by another 2.76 million in May. The ADP number was far less than the 8.75 million estimate. Data from the Institute for Supply Management showed the U.S. services sector contracted less than expected, rebounding from an 11-year trough.”
“U.S. Stocks Close Higher Despite Social Unrest Investors weigh the pace of economic recovery, U.S.-China tensions, coronavirus and social unrest.
U.S. stocks rose Tuesday even as investors weighed the prospects of a protracted economic recovery following the coronavirus lockdowns, outbreaks of violence across American cities and tensions with China.
The Dow Jones Industrial Average climbed 267.63 points, or 1.1%, to 25742.65, led by Home Depot, American Express and Goldman Sachs. The S&P 500 rose 25.09 points, or 0.8%, to 3080.82, and the Nasdaq Composite added 56.33 points, or 0.6%, to 9608.37. The technology-heavy gauge is only 2.1% below its February high.”
Latest stock market news for May 13, 2020. “Stocks Fall as Fed’s Powell Says Outlook ‘Highly Uncertain’ Shares of beaten-down energy, airline and bank stocks were among the biggest decliners.
The Dow Jones Industrial Average dropped more than 500 points Wednesday after Federal Reserve Chairman Jerome Powell said further stimulus could be needed to support the economy’s recovery from the coronavirus-induced contraction.
The blue-chip index and the S&P 500 opened modestly lower, and their declines accelerated as the session progressed. The Dow industrials dropped nearly 700 points at their lows. The declines were broad, with 29 of the 30 stocks in the index in the red, along with all sectors.”
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