Dow jumps by 200 points

Business | 8 Jul 2020 10:16 pm

Stocks gained on Wednesday, led by major tech names, as investors weighed the latest U.S. coronavirus data and its impact on the economic recovery, CNBC reports.

The Dow Jones Industrial Average gained 208 points, or 0.8 percent. The S&P 500 climbed by 0.8 percent while the Nasdaq Composite advanced by 1 percent

Shares of major tech companies such as Apple and Microsoft gained 2 percent and 1.7 percent, respectively. Netflix and Alphabet both climbed at least by 0.8 percent..

Names that would benefit from the economy reopening turned around and added to the gains. Carnival Corp, Norwegian Cruise Line and Royal Caribbean gained by 2.4 percent, 1.7 percent and 2.3 percent, respectively. Retailer Kohl’s climbed by more than 5 percent.

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