Dow Claws Back Some of Thursday's Big Losses

Index rises 477 points
By Newser Editors,  Newser Staff
Posted Jun 12, 2020 3:06 PM CDT
Dow Claws Back Some of Thursday's Big Losses
The Wall Street street sign is framed by American flags flying outside the New York Stock Exchange.   (AP Photo/Mary Altaffer, File)

(Newser) – The stock market on Friday regained some of its losses from Thursday's big selloff, just not as much as the morning numbers suggested it might. The Dow rose 477 points, or 1.9%, to 25,605; the S&P 500 rose 39 points, or 1.3%, to 3,041; and the Nasdaq rose 96 points, or 1%, to 9,588. The increases were rock solid, but the Dow had risen more than 800 points at the opening bell, only to see those gains pared as the day wore on, reports the Wall Street Journal.

“Yesterday was the market taking a needed breath and saying, 'OK, this is probably going to take more time than we were expecting,'" Willie Delwiche, investment strategist at Baird, tells the AP. "Today, it’s 'maybe we overreacted yesterday.'" The one consensus among analysts is that this kind of volatility will affect trading in the near future until investors get a clearer picture of how smooth the economic reopening will be. (Read more stock market stories.)

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