Wall Street drifts, a quiet coda for a rocking quarterBusiness | 30 Jun 2020 10:09 pm
Wall Street is drifting up and down in early trading Tuesday, a quiet coda for a rocking quarter that sent the U.S. stock market nearly all the way back to its record heights.
The S&P 500 was up by 0.2 percent after reversing an earlier loss of 0.2 percent, leaving its gain since the end of March at roughly 18 percent. Other stock markets around the world were mixed, while Treasury yields ticked lower and crude oil gave up a smidgen of its tremendous rebound for the quarter.
The Dow Jones Industrial Average was downby 68 points, or 0.3 percent, at 25,527, as of 9:50 a.m. eastern time, and the Nasdaq composite was up by 0.6 percent.
The S&P 500 is on pace for its best quarter since 1998, but that's only after a 20 percent plunge that marked its worst quarter since the 2008 financial crisis. The vicious whiplash ripped through markets as investors became increasingly hopeful that the economy can pull out of its severe, sudden recession relatively quickly.