What is DOW Jones Live Point?
The Dow Jones industrial average is the benchmark index for blue-chip stocks. It is a stock market index that evaluates the performance of 30 of the biggest companies.
Latest Dow Analytics:
The Dow Jones Industrial Average closed at 580.25 points, which is 2.3% to 25,595.80. The close down was the best since June 5th. The traders seemed to start the week off quite excitedly with the rising points. The corona virus pandemic that loomed over the global economy did not hamper the trade.
The share prices of Boeing rose to 14.4%. This was following the certification of the Boeing 737 Max that began on Monday. The test is critical for investors since Boeing has been undergoing one of the worst corporate crises. The crisis was due to the two airplane crashes that resulted in the death of 346 people.
The next biggest gain contributor to Dow was the Apple company. The share prices rose to 2.3%.
Facebook closed at 2.1%. The social media platform took a hit after major companies put a pause on advertising on their platform. Companies such as Friday, Starbucks, Coca-Cola, and Guinness recently announced they will be putting a halt to all their advertisements on social media platforms.
As the COVID-19 pandemic continues, investors hope state economies will reopen from their lock down status. Many countries are partially reopening the economy with restrictions.
The Southwest airlines surged to 9.6% after Goldman Sachs upgraded their shares to sell. The share price of Gap and Kohl’s rose to 3.7% and 10.1% respectively.
The US Market Is Seeing More Fluctuations
The US has witnessed the highest rising cases of Corona virus. Almost 2.5 million cases have been confirmed so far, and 125000 deaths. The Global corona virus cases have been estimated to be 10 million. Although the cases have been increasing the stock market seems to be unfazed. The deaths in comparison to the number of affected people seem to below. There is hope that the cases will begin to slow once adequate healthcare has been put into place.
The Dow Jones average dropped to 3.3% last week. The S&P 500 dropped to 2.9% and the Nasdaq composite lost 1.9%.
On Monday, 29th June 2020, The Dow closed on its best gain. The rise in economic data and a rise in Boeing shares gave investors hope. The Corona virus hots pots, i.e., Florida, Texas, and California raise concerns about whether there will be an economic shutdown. The Financial markets in the U.S will be shut to celebrate the Fourth of July.
The closing of the DJIA gained 580.25 points in a session of 25,595.80. The S&P 500 index, SPX, rose by 44.19 points or 1.5% to 3053.24. Nasdaq Composite rose by 116.93 points or 1.2% and ended at 9874.15.The Major U.S stock index closed higher which was a surprise. The COVID-19 lock down regulation has been restricting activities and social gatherings.
There was an early boost report which showed that home sales surged by 44.3% in May compared to April. The Sales statistics are 5.1% lower in comparison to the same last year.
Steven Blitz, TS Lombard’s chief U.S Economist and head strategy of Andrea Cicerone, writes that the increasing number of cases are what is holding the economy back from recovery. As there is also recovery and partial lock-down regulations being enforced, the consumption growth will increase in due time. The monetary and fiscal policies are not affecting the economy as much as the pandemic has been. Economic recovery is soon to be seen in the coming quarter.
The Shares of GILD, Gilead Sciences Inc. closed at nearly nothing this Monday. This was after the drug producer disclosed, the COVID-19 experimental drug will cost $2340 for one course of treatment.
The Chesapeake Energy Corp, the company has filed for bankruptcy protection. It has taken a huge blow due to the corona-virus pandemic. The shares have been halted by the company.Aurora Cannabis Inc saw a downfall of 0.9% shares. This was following the retirement of co-founder and chief executive Terry Booth.
In precious metals, gold closed at a modestly higher value, up to 90 cents or 0.05% to a settled $1781.20 an ounce.The European equities, Stoxx Europe 600 index closed at 0.4% higher. London’s FTSE 100 UKX surged by 1.1%.
The Asian market. The Japanese Nikkei NIK closed at a loss of 2.3%, Hong Kong Hang Seng fell by 1%.South Korea Kospi had a downfall of 1.9%. China’s CSI pulled back 0.7%. Shanghai Composite Index fell by 0.6%.