Dow rallies 1,100 points as Wall Street rebounds from last week’s sell-off
Stocks jumped on Monday as Wall Street rebounded from a steep sell-off in the previous week.
American Express gained more than 10% to lead the Dow higher. Dow Inc, Raytheon Technologies and JPMorgan Chase rose more than 7% each. The S&P 500 was led by the industrials and financials sectors, both of which traded more than 5% higher. Retail stocks such as Nordstrom, Kohl’s and Macy’s also rose sharply.
The bullish sentiment was driven by a number of factors:
- While the White House acknowledged this week could be among the toughest for coronavirus hot spots like New York, the administration had a more optimistic tone overall at a press conference on Sunday, noting signs of stabilization in hospital rates and other factors.
- New …continued .
[Source: CNBC News]