Dow goes up more than 200 points
The Dow Jones Industrial Average had a favorable time on Monday as gains in economically sensitive
stocks canceled out losses from major tech names such as Microsoft, as reported by CNBC.
The 30-stock Dow surged 276 points, or 1%, whereas Boeing and Nike managed to secure spots among
the best-performing stocks in the Dow, soaring 3.9% and 4.7%, respectively. Caterpillar, being notable in
the global economy, ascended more than 3%. JPMorgan Chase also gave a push to the Dow’s gains,
Meanwhile, the S&P 500 jumped 0.2% as the energy and industrials sectors went up more than 2% each.
Energy sector became the worst-performing in the S&P 500 for 2020, having lost more than 37% of its
value. Industrials went down more than 5%.
“This actually suggests investors are turning more sanguine on the broader macro landscape,
encouraged by the solid CQ2 earnings season and the bullish July economic data last week,” stated
Adam Crisafulli of Vital Knowledge.