Dow Extends Meteoric Rally as Pressure to Reopen New York Spirals

  • The Dow Jones Industrial Average (DJIA) extended its meteoric recovery today as the U.S. stock market enjoyed a blistering rally.
  • As coronavirus cases appear to plateau in New York, pressure builds to re-open the city and economy.
  • But health experts outline four key criteria before restrictions can be lifted.

The U.S. stock market continued its blistering recovery on Tuesday. The Dow Jones Industrial Average (DJIA) has already surged more than 2,000 points since the week began.

Yesterday’s surge was triggered by hints of a plateau in New York coronavirus cases. And today’s rise comes amid growing pressure to re-open the financial capital of the world. President Trump brought hope last night, declaring the nation would open “sooner than you think.”

We will rise from this crisis with more strength, unity and resolve… We’re going to have a rough week, but there’s tremendous light at the end of the tunnel. It’s going to be sooner than people think.

A growing number of outspoken voices, including legendary ‘Big Short’ trader Michael Burry are calling for lockdowns to be rolled back.

The shut down is not good for anyone – only 30% of whites and Asians can work from home, but it’s far worse for blacks and Latinos. Hard-earned job and wage gains are evaporating fastest for the already-underprivileged. At what cost prevention?

Dow extends its phenomenal recovery

The Dow Jones exploded more than 1,600 points higher on Monday, and it shows no signs of slowing down on Tuesday.

As of 9:40 am ET, the Dow had raced 659.87 points or 2.91% higher to 23,339.86.

The Dow Jones Industrial Average continued to rally aggressively on Tuesday. | Source: Yahoo Finance

The S&P 500 and Nasdaq were up 2.49% and 2.00%, respectively.

Roadmap to reopening New York

With coronavirus cases and hospital load beginning to stabilize, talks are turning to how to reopen the city. A new paper entitled National Coronavirus Response: A Road to Reopening outlines a potential…

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