NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Comic: Wall Street Kicks Off Q3 With More Gains As Stimulus Boosts Stocks

Published 07/04/2020, 08:03 AM
Updated 07/04/2020, 08:05 AM
US500
-
DJI
-
IXIC
-

By Jesse Cohen

Investing.com - After wrapping up its best quarter in decades, stocks on Wall Street kicked off the third quarter with more gains as the economy tries to recover from the coronavirus pandemic.

The Dow Jones Industrial Average rose 3.3% this week while the S&P 500 jumped 4% in the same time period. It was the Dow and S&P 500′s biggest weekly gains since June 5.

The tech-heavy Nasdaq Composite, meanwhile, climbed 4.6% this week for its biggest weekly increase since May 8.

The strong weekly gains follow the market’s best quarterly performance in decades. The Dow ended the second quarter with a 17.8% gain, its biggest quarterly rally since 1987.

The S&P 500 scored its biggest single-quarter surge since 1998, soaring nearly 20%.

Meanwhile, the Nasdaq soared 30.6% for the quarter, its best quarterly performance since 1999.

Stocks have rallied sharply in recent months, with all three benchmarks up more than 40% from their lows set on March 23 - when coronavirus-related lockdowns shocked the stock market - as a barrage of stimulus from the Federal Reserve and the U.S. government boosted risk appetite.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.