por admin » Lun Jun 08, 2020 4:34 pm
Stock market live Monday: S&P 500 goes positive for the year, Dow up 450, Nasdaq new high
PUBLISHED MON, JUN 8 20207:41 AM EDTUPDATED AN HOUR AGO
Pippa Stevens
@PIPPASTEVENS13
Yun Li
@YUNLI626
Maggie Fitzgerald
@MKMFITZGERALD
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VIDEO02:39
JJ Kinahan: Millennials have been more bullish
Stocks started the week on a high note as the major averages sought to build on last week’s gains. All three major averages ended the day with sharp gains. Most notably, the S&P 500 went positive for the year. Names that will benefit from the economy’s reopening led the market higher.
4:37 pm: Monday’s rally by the numbers
S&P 500 closed up 1.2% for its sixth positive day in seven
S&P 500 is up 0.05% this year
S&P 500 is 4.75% below its intraday all-time high of 3,393.52 from Feb. 19
S&P 500 is 47.47% above its 52-week low of 2,191.86 on March 23
Nasdaq Composite closed up 0.79% for its sixth straight positive day in seven at a new record close for the first time since Feb 19
Nasdaq Composite is up 10.6% this year
Dow closed up 1.7% for its sixth straight positive day for the first time since Sep. 13 and its 8-day win streak led by Boeing
Dow is down 3.36% this year
Dow is 6.75% below its intraday all-time high of 29,568.57 from Feb. 12
Dow is 51.38% above its 52-week low of 18,213.65 from March 23
Eleven out of eleven sectors were positive today led by Energy up 4.32% — Fitzgerald
4:02 pm: S&P 500 goes positive for 2020
U.S. equities closed on Monday near their session highs as market participants bet on an economic recovery as the U.S. starts to reopen from the coronavirus shutdown. The Dow Jones Industrial Average rose 461 points or 1.7%. The S&P 500 rallied 1.2%, bringing the index into positive territory for the year. The Nasdaq Composite rallied 1.04%, notching another record close for the technology heavy index. — Fitzgerald
3:54 pm: Millenials buying patterns ‘bifurcated,’ according to TD Ameritrade
TD Ameritrade’s millennial clients piled into gambling stocks and a few major cyclicals in May, chief investment strategist JJ Kinahan said on “Closing Bell.” The firm’s younger clients’ favorite stocks last month included Draft Kings and MGM Resorts, as well as Coca-Cola and JPMorgan Chase, Kinahan said.“I think there’s a perception among people that investors are only trading for a quick hit, and what we see is that’s not necessarily true. They also want to build a portfolio longer term,” Kinahan said. —Pound