Wall Street posted solid gains on Tuesday as optimism about the reopening of the nation's economy after weeks of lockdown countered concern over more disruptions from street protests spread across the country
Tech shares, along with cyclical stocks like industrials and financials, gave the biggest lift to all three major stock indexes.
“If the violence continues it might worsen the coronavirus’ impact on businesses,” Cardillo added. “A lot of stores would close; there’d be curfews; people wouldn’t be able to shop and that would further hurt the economy.” The Dow Jones Industrial Average rose 267.63 points, or 1.05%, to 25,742.65, the S&P 500 gained 25.09 points, or 0.82%, to 3,080.82 and the Nasdaq Composite added 56.33 points, or 0.59%, to 9,608.38.
Southwest Airlines Co rose 2.6% after extending buyout and paid leaves to employees in what its chief executive called an effort to “ensure survival.” Shares of luxury retailer Tiffany & Co dropped 8.9% following a report from WWD that its deal with LVMH is seen as uncertain amid the deteriorating U.S. market.
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