Tuesday, May 26, 2020

The New York Stock Exchange floor reopened Tuesday

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BREAKING: U.S. equity markets surged to their best levels in months as states continued to reopen and traders returned to the New York Stock Exchange for the first time since shutting down on March 23 to slow the spread of COVID-19. ⁣ ⁣The Dow Jones Industrial Average rallied more than 600 points, or 2.45 percent, in the opening minutes of trading, while the S&P 500 and the Nasdaq Composite were higher by 2.20 percent and 1.84 percent, respectively. The gains, which propelled both the S&P 500 and the Dow to their highest levels since March and the Nasdaq to its best level since February, come after all three of the major averages each advanced more than 3 percent last week. ⁣ ⁣Go to the link in our bio for more on this story.

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The New York Stock Exchange floor reopened Tuesday to surging U.S. stocks after being closed for a little more than two months due to the coronavirus pandemic. The Dow Jones Industrial Average climbed more than 600 points after the opening bell, influenced at least partly by news of further advances in developing a coronavirus vaccine from U.S. firms Merck and Novavax. The Dow was flat on Friday but gained more than 3 percent for the week for its best weekly showing since early April. The S&P 500 and Nasdaq had also gained 3 percent for the week. Within the first 30 minutes of trading Tuesday, the S&P 500 was up nearly 60 points and the Nasdaq gained about 130. Eighty floor brokers were allowed on the floor Tuesday, about 25 percent of what the NYSE had permitted before the stock exchange closed to in-person trading on March 23. The NYSE had operated entirely electronically, for the first time in its history, since the closure. “We need to get America restarted and New York restarted,” Stacey Cunningham, president of the stock exchange, said.”[Closing] was a hard decision to make, even though I knew it was the right one to make. I knew at the time and said at the time we will reopen and we will come back from this.”

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