Economy

United States stocks open lower on renewed virus fears

United States stocks open lower on renewed virus fears”

The Dow Jones Industrial Average added 158 points, 0.6%, to close near 25,763, after being down by as many as 762 points, or almost 3%; while the S&P 500 rose 25 points or 0.8%, to close near 3,067.

Futures for the NASDAQ Composite Index lost 133.75 points, or 1.4%, to 9,498.50.

In Europe, the pan-continental Stoxx Europe 600 dropped 1.1%. Just on Friday, U.S. indexes surged, with the Dow soaring 477 points.

A flood of liquidity in the form of fiscal and economic stimulus, along with uneven but steady re-openings of state and local economies, sparked a remarkable rally in the stock market since its late-March trough. That led investors to dump stocks across the board on Monday, with those closely tied to the reopening of the economy suffering the biggest losses.

All the 11 primary S&P 500 sectors traded noticeably lower, with energy down about 4 percent in morning trading, leading the losses.

Netflix stock climbed 1.78 percent, Facebook gained 1.71 percent, Apple increased 1.24 percent and Amazon rose 1.09 percent.

"The timeline for the virus is being extended".

More news: China's Sinovac gets positive results in COVID-19 vaccine trials

Volatility has returned to the markets.

But surging new cases of COVID-19 in China, where the pandemic originated, prompted the reintroduction of containment measures, and record hospitalizations in several USA states dampened investor risk appetite.

In the USA, cases are surging in many states that have lifted lockdown orders, raising fears that an economic recovery will stall if lockdowns resume.

Data from China published Monday showed economic activity improved in May, but retail sales figures weren't as strong as some had hoped.

A sign for Wall Street hangs outside at the New York Stock Exchange on Wall Street in New York City. Among the losers: United Airlines, Norwegian Cruise Line and Wynn Resorts. Retailers Kohl's and Gap declined.

WTI crude oil prices fell 2.2% to $ 35.47 a barrel, while Brent crude futures fell 1.2% to $ 38.25.



Like this

loading...
loading...

Latest


16 June 2020
AMD introduces Radeon Pro 5600M GPU for 16-inch MacBook Pro
The Radeon Pro 5600M has 40 Compute Units, 2560 Stream Processors, 8GB of HBM2 memory and a 2048-bit memory interface. That's no small fee, but it might just be worth it for performance fiends working with AI or 3D rendering.

16 June 2020
Police Identify Suspect in Deaths of Teenage Black Activist and Elderly Woman
According to TPD, Sims, a long-time AARP volunteer in Tallahassee, had been missing since June 11. Black Lives Matter activist Oluwatoyin Salau's legacy still lives on, despite her tragic passing.

16 June 2020
Supreme Court again declines to take up Second Amendment cases
Among the cases that the court refused to hear were assault weapons bans in MA and Cook County, Illinois. Justice Thomas said "the Court simply looks the other way" when evaluating Second Amendment rights.

16 June 2020
Father arrested after 2 children die in hot truck
When he woke up , Dennis couldn't find his children - then found them on the floorboard of his truck, the outlet reported. I hope our bond only grows stronger, I hope they always want to call me or see me just to talk or ask for advice.

16 June 2020
Matt Lucas and David Walliams "very sorry" for Little Britain blackface
Both programmes include sketches of the comedians portraying characters and situations of different ethnic backgrounds. However, Netflix is yet to provide a comment for the reasons for the removal of the comedy sketch shows.

16 June 2020
MLBPA proposes 89-game season, expanded playoffs, full prorated salaries
Deputy Commissioner Dan Halem told the union a 76-game schedule could not be staged unless players agreed to a deal by Wednesday. MLB's offer would guarantee each $8,723,967 with the chance to increase to $12,190,633 apiece if the postseason is completed.

16 June 2020
US CDC reports 2063812 coronavirus cases
Two-thirds of people felt their communities had struck the right balance in their mitigation strategies. Jay Butler said in a Friday call with reporters. "Here's a general rule of thumb", Butler continued.

16 June 2020
Manhattan Lieutenant Apologizes To Officers For Kneeling With George Floyd Protestors
Referring specifically to ex-Minneapolis cop Derek Chauvin, Cattani added: "We all know that a-hole in Minneapolis was wrong". There have been many instances of police officers across the country taking a knee to show solidarity with protesters.

16 June 2020
Trump Administration Expected to Sue to Block Bolton Book
Bolton was expected to reveal other "Ukraine-like transgressions" in the book, Simon & Schuster wrote in the statement on Friday. Bolton, a former ambassador to the United Nations, was national security adviser between April 2018 and September 2019.

16 June 2020
Katherine Williams-Dunning, daughter of country singer-songwriter, dies at 27
In her message, Holly shared that Tyler was "awake and responding", however, they "don't know injury extent yet". Created "as a way to build moms up", the products are all handmade or printed by mothers, the page reads.