The Dow gained 250 points as stocks rally despite civil unrest by skleb1234
The market finished higher on Tuesday, with stocks continuing to rally on optimism about a reopening of the economy despite widespread civil unrest across the country over the killing of George Floyd.... [+]The Dow Jones Industrial Average was up 1.1%, over 250 points, on Tuesday, while the S&P 500 rose 0.8% and the tech-heavy Nasdaq gained 0.6%.
Stocks posted a second straight day of gains, despite widespread civil unrest across the country stemming from the death of George Floyd. The market has largelythe protests and riots taking place in many big cities, instead moving higher on optimism about reopening of the economy. Investors don’t see the mass protests as a threat to either corporate earnings or an economic recovery,Stocks that would benefit from a reopening jumped on Tuesday, including airlines, cruise operators and casinos. Some retailers and banks also posted strong gains, while tech shares largely declined.
If protests continue for longer than expected, which could postpone the reopening of the economy and hurt consumer confidence, that could have“Good news on vaccines helped stocks in May, but U.S.-China relations and civil unrest could steal the spotlight in June,” according to a recent note from Lori Calvasina, chief U.S. equity strategist for RBC Capital Markets. “The S&P 500 remains highly news flow driven.
, CNBC anchor Jim Cramer said on Monday. “The market has no conscience,” he said. “Investors are simply trying to make money.”
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