U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.
The Dow Jones Industrial Average traded above 30,000 points for the first time on Nov. 24 as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.
Stocks tied to reopening of the economy continued to gain momentum.
Much of Wednesday's strength for Wall Street was due to big gains for technology stocks. Investors have increasingly seen these stocks as some of the safer bets in the market, able to grow their profits even in a pandemic as more of daily life shifts online.
President Donald Trump says he has instructed aides to stop negotiating on another round of COVID-19 relief until after the election.
U.S. equity futures plunged by more than 1.6%, or 500 Dow points after President Trump confirmed through a tweet that he and the first lady tested positive for coronavirus.
The Dow Jones Industrial Average was down 629 points, or 2.5%, at 24,975, as of 9:48 a.m. Eastern time, and the Nasdaq composite was down 1.5%. The losses were widespread, with 98% of the stocks in the S&P 500 lower
Stocks are falling sharply on Wall Street Thursday as coronavirus cases increase again, deflating recent optimism that the economy could recover quickly as lockdowns ease.
U.S. equity markets fought for gains Tuesday after President Trump threatened to deploy the military to quell violence and looting in cities across America after the death of a black man in police custody in Minneapolis.
ISM Manufacturing rose to 43.1 in May.
U.S. equity markets curbed the bulk of their losses Friday after President Trump announced a new wave of crackdown efforts on China, but stopped short of instituting new sanctions or upending the trade deal between the two countries.
The Dow Jones Industrial Average fell 148 points, or 0.58 percent, while the S&P 500 slipped 0.21 percent.
U.S. equity markets were mixed Wednesday as U.S. states continued with their plans to reopen America.
U.S. equity markets surged to their best levels in months as states continued to reopen and as traders returned to the New York Stock Exchange for the first time since shutting down on March 23 to slow the spread of COVID-19.
U.S. equity markets slipped Friday but registered solid weekly gains as investors focused on the reopening of the American economy while also keeping tabs on Chinese President Xi JInping's efforts to tighten his grip over Hong Kong ahead of the Memorial Day weekend.
U.S. equity markets slipped Thursday as investors weighed the pace of the economic recovery after job losses tied to COVID-19 remain elevated.
U.S. equity markets maintained gains Wednesday even though the Federal Reserve, in the April minutes, warned the coronavirus may carry 'considerable risk' for the U.S. economy.
U.S. equity markets closed lower across the board giving up earlier gains as investors took profits and reassessed the progress of a potential coronavirus treatment.
The rapid and uncontrolled spread of coronavirus has generated levels of fear, uncertainty and volatility that can make sound investing decisions difficult.
U.S. equity markets soared Monday after drugmaker Moderna announced progress toward a COVID-19 vaccine and as lockdowns continued to ease nationwide.