Wall Street rebounds

Business | 15 Jul 2020 10:43 am

Wall Street rebounded on Tuesday, and the S&P 500 more than made up all its losses from the day before, after stocks pinballed through another day of erratic trading.

The S&P 500 climbed by 1.3 percent, led by energy producers and other companies whose profits would benefit greatly from a strengthening economy. It was a sharp turnaround from the morning, when the index was down 0.9%, and from Monday’s last-hour slide after California shut bars and reinstated other restrictions amid a jump in coronavirus counts.

The Dow Jones Industrial Average also erased an early loss to end the day at 26,642.59, up by 556.79 points, or 2.1 percent. Big tech-oriented stocks lagged behind, though, in a turnaround from their remarkably resilient run through the pandemic. That held the Nasdaq composite to a more modest gain of 97.73, or 0.9 percent, at 10,488.58.-AP

 

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