Markets Bounce Back After Strong Housing Report

They clawed back half of last week's losses
By Newser Editors and Wire Services
Posted Jun 29, 2020 4:11 PM CDT
Markets Bounce Back After Strong Housing Report
A man looks at an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Monday, June 29, 2020. Shares fell Monday in Asia.   (AP Photo/Eugene Hoshiko)

Stocks closed higher on Wall Street Monday, clawing back half of their losses from last week. The S&P 500 rose 1.5%. The index shook off a wobbly start and drove decisively higher after a much healthier-than-expected report on the housing market. Among big-name companies, Boeing and Apple did especially well. Stocks of smaller companies jumped more than the rest of the market, which often happens when investors are feeling more optimistic about the economy, the AP reports. Treasury yields were mixed and oil prices rose. European stocks also wavered in the early going before closing higher. The S&P 500 gained 44.19 points to 3,053.24. The Dow Jones Industrial Average rose 580.25 points, or 2.3%, to 25,595.80. The Nasdaq composite added 116.93 points, or 1.2%, to 9,874.15. The Russell 2000 index of small company stocks picked up 42.43 points, or 3.1%, to 1,421.21. (Read more stock market stories.)

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