Hopeful Investors Push Markets to More Gains

Dow rises 131
By Newser Editors,  Newser Staff
Posted Jun 23, 2020 3:05 PM CDT

(Newser) – Wall Street notched another solid day of gains on Tuesday. Investors seem generally happy with how things are going in terms of the reopening of the economy, per the AP. On the day, the Dow rose 131 points to 26,156, the S&P 500 rose 13 points to 3,131, and the Nasdaq rose 74 points, continuing its run into record territory, to 10,131. All the gains were under 1%. New economic figures, including a sharp rise in new-home sales in May and an uptick in business activity in the private sector, pleased investors, reports the Wall Street Journal.

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“We’re watching the recovery and the process of the US states reopening the economy very closely,” Katerina Simonetti of UBS Private Wealth Management tells the Journal. “It’s trial and error: They’re trying different things, seeing if they work or not. Assuming that it would work, we expect a sustained economic recovery for the third or perhaps fourth quarter of this year.” (Still, worrisome signs existed, including a record number of new cases in Texas.)

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