United States stocks end higher in choppy trading

Marco Green
June 16, 2020

Futures for Dow Jones Industrials plunged 582 points, or 2.3%, early Monday, to 24,816.

After opening sharply lower, USA stock indexes climbed Monday after the Federal Reserve announced it will begin buying corporate bonds. However, market gains were capped as continued worries about the economy amid emerging second wave of the epidemic.

Trillions of dollars in fiscal and monetary stimulus along with easing of restrictions had lifted the S&P 500 earlier last week as much as 47.5% from the pandemic low in March and helped the tech-heavy Nasdaq confirm a bull market.

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Shortly after the opening bell, the Dow sank 600 points, the S&P 500 was down just a handful of points and the Nasdaq was up about 40 points.

Adding to the positive sentiment, the University of MI released a report showing a continued rebound in U.

Looking at the United States economic calendar for the week ahead: job openings data (April) will be released on Tuesday; federal budget data (May) will be released on Wednesday; initial jobless claims for the week ending 6 June will be released on Thursday; and consumer sentiment index data (June) will be released on Friday.

Gold prices slid $21.90 to $1,715.40. "Now that reopening is happening, there's fear of suboptimal results: less social distancing triggering a second wave of the virus, followed by another round of lockdowns". S. persist, with half a dozen states, including Texas and Arizona, facing rising infections of COVID-19.

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

Photoshop maker Adobe Inc rose after posting a better-than-expected quarterly profit, driven by strong demand for its cloud software.

For the week ending Friday, the Dow shed 5.6 percent, S&P 500 slipped 4.8 percent and the Nasdaq pulled back 2.3 percent.

Other reports by Click Lancashire

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