June 01, 2020
22:12
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US markets were buoyed on Monday by signs of the looming economic recovery, resisting concern over the increasingly violent riots affecting the entire country.
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Wall Street closed slightly higher on Monday, with signs suggesting the US economy may be on the road to recovery having helped allay fears over escalating riots spreading across the country and tensions growing between the United States and China. Apple (+1,23%), Amazon (+ 1.17%) and Facebook (+ 3.03%) were the main drivers behind the rise of the S&P 500 and the Nasdaq, while Boeing (+ 3.69%) gave the biggest boost to the Dow Jones. The main index of the New York Stock Exchange has advanced 0.36% to 25,475.02 points. The Nasdaq took 0.66% to 9,552.05 points. The S&P 500 gained 0.38% to 3,055.73 points.
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What has given investors hope are the steps taken by central banks, especially the Fed, to support the economy. But the violent protests that have rocked the country for a week following the murder of an African-American by the police, and which have pushed Giants Target (-2.36%) and Walmart (-0.06%) to close their stores, have created a new concern for the markets.
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