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Wall St. surges as some U.S. states reopen for business

Published 04/27/2020, 07:02 AM
Updated 04/27/2020, 04:10 PM
© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) as the building prepares to close indefinitely due to the coronavirus disease (COVID-19) outbreak in New York

(Reuters) - Wall Street surged on Monday at the onset of a hectic earnings week, as investors turned a hopeful eye toward several U.S. states that are relaxing shutdown restrictions put in place to curb the spread of the COVID-19 pandemic.

The Dow Jones Industrial Average (DJI) rose 353.55 points, or 1.49%, to end at 24,128.82.

© Reuters. The spread of the coronavirus disease (COVID-19) in New York

The S&P 500 (SPX) gained 41.13 points, or 1.45%, to 2,877.87 and the Nasdaq Composite (IXIC) added 95.64 points, or 1.11%, to 8,730.16.

Latest comments

Remember, when everyone is thinking the market is going to go one way, it will do the opposite.
The bears will need to wait for 2nd quarter earnings to be reported. Adidas announced net income went down 97% 1st quarter and their stock went up! Lol! Bad news is priced in, but states slowly opening up for business wasn’t. Analysts say they’re now bullish on the economy opening up and are bullish that this pandemic was less then first feared! Huh! I thought initially we would be at home for 2-3 weeks and it would be back to normal. Now, it’s way worse then originally thought! We are wearing masks and can’t be near anyone. Governors say it’s safe, but do we all believe them! Anyway, by the time 2nd quarter earnings come out, the economy will have been open for several months and stock valuations will be based on revenue and profits, not hope and optimism. The last month of the second quarter will offer a glimpse of the 3rd quarter that guidance will be based on and the premium valuations will sink to recession valuations. Fed stimulus isnt spread evenly. Recession is markets future.
Surge ‘n surge, bulls got **** up all the way, drive da virus away, away from country road...
So if all the "bad" economic things out there are "baked in" so the bulls say, why wouldn't the recovery be "baked in" as well? This is a manipulated market and we all know it. Time to take the training wheels off.
this comment is baked in
or maybe time for you to face reality
The coronavirus was priced in back in 2018. The market crash was a predictable sequence of buying and seling
AAPL AMZN MSFT FB BA all red.. oil down 25%. "GM Suspends Dividend; Apple Delays iPhone Production Ramp-up"...oil down 25%....US workers have not worked in months and unemployment rate estimated at 30%...P/E's at dotcombubble levels...how is this up 1.3% lol
you nailed it..😁
The Infected of COVID-19 gonna reach 1m and market go higner, It's amazing...
Not amazing that 1/3 of 1% of the population gets a virus, but somehow the economy can actually function; it happens every year.
Watch as your economy falls flat on it's face after more and more States remove restrictions. Reference 'Sweden' their per capita death rate has caught up with ours. Soon we'll be in second place, well maybe not as more and more looney Governors cancel restrictions?
  So, from 1/3 of 1% to a horrific 1/2 of 1%?    The economy survived 80,000 flu fatalities in 2018-19, so it can survive 60,000 Corona fatalities, the vast majority of which are not even part of the productive sector.  A recession results in workforce casualties that will exceed the fatalities caused by the virus. The economy is not just $$; it's human lives that cannot exist without it.
no job lose. it's all a lie. the market iasky high and going higher although every red flag is raised world wide. trump is a thief.
The truth.
That's pure nonsense.
"What did he steal?" - hahahahahahahahahahahaha
wall Street gains as the Fed pumps trillions more into the "market"....fixed that for ya
all is back to normal I see.
That miracle Trump is hoping for is here!  God and Trump, hurrah!
This is going to ***them back twice as hard. Next thing will be Italian hospital circumstances coming to the US with 100 000's x casualties. Completely irresponsable! But hey 20 million unemployed and stockmarkets going up like nothing is happening. Move along now, nothing to see here.
So, you actually believe a country can survive with no productive individuals, and no relevant health consequences?   You probably believe in the intrinsic value of a piece of paper, simply because it contains ink, a signature and a portrait.
Shut downs are designed to reduce the burden on the health care system. Looks like the system can handle the virus now so shut downs are lifted. The virus is here to stay. There will be no “test all”. U r on ur own.
"Looks like the system can handle the virus now so shut downs are lifted."......of course you forgot to mention the healthcare system can handle the virus (which itself is a questionable claim but we will go with that for now) only with shutdown are in place, once shutdown are lifted can the system handle the second wave?
open everything!
Government was originally intended as a cooperative social contract with obligations to define and enforce justice; it was never originally intended as a charitable social contract with obligations to take over the responsibilities of the individual. Creeping / sprinting socialism would have you believe otherwise. In most (not all) cases, taking personal responsibility for one's own welfare yields much better results.
 "Government was originally intended as a cooperative social contract with obligations to define and enforce justice;" ----- forms of government evolved over time, or are you happy to have original absolute monarchy govts in place in most countries?
there will be no vaccine; 15-50% effectiveness if a treatment only. I'm vaccinated against polio and small pox, which means I will never contract those illnesses, which will NEVER be the case with COVID-19 or any subsequent suffix.
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