Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dow Jumps as Bulls Up Bets on Financials, Industrials

Stock MarketsSep 28, 2020 02:47PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Yasin Ebrahim

Investing.com – The Dow surged Monday, led by sectors tied to the economy, with financials and industrials up strongly amid renewed stimulus after House Speaker Nancy Pelosi suggested a deal to roll out more aid was still on the table.                 

The Dow Jones Industrial Average rose 1.97%, or 535 points. The S&P 500 was up 1,84%, while the Nasdaq Composite gained 1.74%.

Industrials and financials rose more than 2%, with the latter getting a boost from banking stocks as renewed hopes for coronavirus stimulus lifted sentiment on the recovery.

JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Bank of America (NYSE:BAC) rose more than 3%.

Hope for further stimulus from Congress comes after Pelosi on Sunday said Democrats would move ahead with a smaller $2.4 trillion aid package that could come to a vote as soon as next week.

The fiscal package would include unemployment benefits, direct payments to households and small business loans as well as aid for airlines.

Airlines rallied sharply, lifting industrials higher, with Delta Air Lines (NYSE:DAL) and United Airlines (NASDAQ:UAL), up more than 6%. United Airlines also received a boost after the carrier said its pilots agreed to reduce their working hours to avoid furloughs that were set to begin in October.

Tech, meanwhile, pushed the broader market higher. Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) Alphabet (NASDAQ:GOOGL) Amazon.com (NASDAQ:AMZN) and Facebook (NASDAQ:FB), which together make up a quarter weighting of the S&P 500, traded higher.

In other news, Uber Technologies (NYSE:UBER) was granted a new license to operate in London after winning its appeal against London’s transport authority, Transport for London, sending its shares nearly 4% higher. 

Caesars Entertainment (NASDAQ:CZR) jumped 4% after tabling a £2.9 billion to buy sports betting site William Hill.

The strong day of gains on Wall Street comes ahead of a widely expected bout volatility as President Trump and Democratic presidential hopeful former Vice President Joe Biden are set to square off in their first of three debates starting from Tuesday. The U.S. general election is just 36 days away.

Dow Jumps as Bulls Up Bets on Financials, Industrials
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (10)
Shriram Raja
Shriram Raja Sep 28, 2020 3:58PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Never write stories . Purely it's known no retailers buying . How retailers buy with no job and money
Supix Lim
Supix Lim Sep 28, 2020 3:58PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
gjb
Leon Kelly
Leon Kelly Sep 28, 2020 3:37PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
ok..🙆‍♂️ My shorts got stomped out today. but I'm reloading tomorrow
Covid Altzheimer
Covid Altzheimer Sep 28, 2020 2:20PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
nasdaq composite up 161 pros. this guy dont check hes writings
Mark Manley
Mark Manley Sep 28, 2020 2:16PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Consider that the S&P was at about 3300 at the beginning of the year, and if it had an average year it would end around 3600-3700, so all of the chicken-littles that say it's overvalued aren't paying attention to major indicators and aren't putting this market in its proper context
Amine Fourali
Amine Fourali Sep 28, 2020 2:16PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Really!
Ben Ramirez
Ben Ramirez Sep 28, 2020 2:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The end is near lol
jd ratti
jd ratti Sep 28, 2020 1:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Buy long??
Ricardo Diogo
Rcd72 Sep 28, 2020 1:51PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it is going up as much as the positivity rate of covid test results....merry-go-round....
robert mcdonald
robert mcdonald Sep 28, 2020 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Feels good to see the up side, when the economy makes a comeback higher then ever..
Wiley Spaller
Wiley Spaller Sep 28, 2020 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Duh not 🤣🤣
romutis kukutis
romutis kukutis Sep 28, 2020 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
161%?
Matthew Onu
Matthew Onu Sep 28, 2020 1:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
That's a record gain...I wish I bought into that lol
Mario Rossi
Mario Rossi Sep 28, 2020 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Give us 10000 billions stimulus to invest in stokes to boost economy, please!!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email