Here’s What Happened to the Stock Market on Wednesday
The Dow gained 177.10 points, or 0.68%, to close at 26,067.28. The S&P 500 climbed 0.78% to 3,169.9. The Nasdaq Composite notched another record close, rising 1.44% to 10,492.50. Gains in major tech companies helped the major averages regain some of the losses from Tuesday’s session.
Another Strong Day For Tech
Microsoft shares rose 2.20% while Apple gained 2.23% to hit a record. Amazon and Netflix advanced 2.70% and 1.95%, respectively. This gain in tech came as coronavirus cases in the U.S. topped 3 million. “It seems like you flip a switch when those Covid cases go up, the country takes a step back in terms of reopening the economy and all those names find high demand,” said one trader. Read more…………..
Chart Of The Day
Steve Grasso, Stuart Frankel, joins ‘Power Lunch’ to discuss the state of the market and his stock picks.