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MarketWatch MarketPulseJun 03, 2020
Nasdaq ends 1.4% from record high, stocks extend rally on hopes damage from pandemic is less than feared
U.S. stocks closed sharply higher and topped some psychological thresholds Wednesday as a pair of reports suggested the worst might be past for the U.S. economy. The Dow Jones Industrial Average jumped about 527 points, 2.1%, to close near 26,270, while the S&P 500 gained 42 points or 1.4%, ending trading at about 3,123. The Nasdaq closed at about 9,683, up 75 points or 0.8%, finishing about 1.4% from its Feb. 19 record closing high at 9.817.18. Meanwhile, the Nasdaq-100 briefly traded above its February peak, before the coronavirus pandemic wracked markets and the economy. The day's action also saw the Dow punch above the symbolic 26,000 threshold. Job losses and service sector activity weren't as bad as feared in May, according to two separate reports, helping bolster investor sentiment. Travel stocks like Carnival Corp. and real-estate concerns like Simon Property Group Inc. rallied as investors snapped up some of the sectors that lost the most value during the lockdowns.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Reuters Company NewsJun 03, 2020
GLOBAL MARKETS-Asian stocks set to extend gains as stimulus fans recovery hopes
Stronger appetite for riskier assets is set to lift Asian equities on Thursday, as government stimulus expectations support investor confidence in an economic recovery from the coronavirus.

MarketWatchJun 03, 2020
Bond Report: 10-year Treasury yield hits 8-week high on global equity gains and economic data
Treasury yields climb on Wednesday in line with the buoyancy in global equity markets as investors eye the easing of lockdown measures, while largely disregarding the civil unrest roiling the country.

MarketWatch MarketPulseJun 03, 2020
S&P 500 index futures and those for the broader market rise Wednesday evening after index notches best 50-day rally in history
U.S. stock-index futures were rising Wednesday evening after the major equity benchmarks posted sharp gains in the regular session on continued hope that measures to limit the economic damage wrought by the COVID-19 pandemic will prove successful in the near term. The gains on Wednesday marked the S&P 500 index's best 50-day trading stretch, up 37.7%, ever, according to research analyst Ryan Detrick, LPL Financial analyst on Wednesday via Twitter, based on data tracking the predecessor of the S&P 500 going back to 1950. Such streaks also coincided with positive gains in the six-month and 12-month period, the analysts noted. Futures for the S&P 500 index Wednesday evening were up 7.55 points, or 0.2%, at 3,125, those for the Dow Jones Industrial Average were up 103 points, or 0.4%, at 26,331, while the Nasdaq-100 futures were gaining 14.75 points, or 0.2%, at 9,699.50. Wednesday's regular trade concluded with the Dow advancing 527.24 points, or 2.1%, to close at 26,269.89, while the S&P 500 rose 42.05 points, or 1.4%, to end at 3,112.87, the highest finish for both benchmarks since March 4, according to Dow Jones Market Data. The Nasdaq Composite Index rose 74.54 points, or 0.8%, ending at 9,682.91, or 1.4% away from its all-time closing high of 9,817.18 in February. On Thursday, investors will be watching for a report on weekly jobless claims where at least 1.8 million workers probably applied in the week ended May 30, according to average economists' estimates polled by MarketWatch. Market participants, however, have been shaking off poor economic reports to focus on reopening efforts. Trillions of dollars in stimulus from the Federal Reserve and the government have also helped to stabilize the market's downturn.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Yahoo BusinessJun 03, 2020
Stocks jump as markets shake off unrest, lousy ADP data
Deutsche Bank Securities Chief Economist Torsten Sl√łk joins Yahoo Finance's Zack Guzman to discuss why stocks are climbing despite the civil unrest across the country and the weak ADP data.

CNBC FinanceJun 03, 2020
Dow rallies more than 500 points, S&P 500 posts longest winning streak since February
Stocks rose on Wednesday as markets continued to rally on optimism over economies emerging from coronavirus-led shutdowns.

MarketWatch MarketPulseJun 03, 2020
Cloudera pares Wednesday session gains after-hours on revenue outlook
Cloudera Inc. shares pared Wednesday gains in the extended session after the enterprise software company's revenue outlook fell short of the Wall Street consensus. Cloudera shares fell 8% after hours, following a 10% gain in the regular session to close at $12.40. Cloudera said it expects adjusted earnings of 6 cents to 7 cents a share on revenue of $206 million to $209 million for the second quarter, and 26 cents to 30 cents a share on revenue of $825 million to $845 million for the year. Analysts surveyed by FactSet expect earnings of 5 cents a share on revenue of $213.2 million for the second quarter, and 24 cents a share on revenue of $862.3 million for the year. "The business outlook is based on the assumption that the recessionary impact of the coronavirus pandemic (COVID-19) will peak in Cloudera's second and third quarters of fiscal 2021 and moderate in the fourth quarter of our fiscal 2021," the company said in a statement. The company reported a first-quarter loss of $58 million, or 20 cents a share, compared with a loss of $103.1 million, or 38 cents a share, in the year-ago period. Adjusted earnings were 5 cents a share. Revenue rose to $210.5 million from $187.5 million in the year-ago quarter. Analysts had forecast per-share break-even earnings on revenue of $204.9 million. "We executed extremely well in Q1, particularly as the pandemic was in full effect for more than half of our fiscal quarter," said Rob Bearden, Cloudera chief executive, in a statement. "We believe that remote working environments have placed heightened importance on data, data analysis and data security, which has increased the value of data architecture design and the criticality of hybrid cloud solutions."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatch MarketPulseJun 03, 2020
Visa announces $10 million scholarship fund for college-bound Black and African American students
Visa Inc. said Wednesday that it was establishing a $10 million fund to provide scholarship assistance over the next five years for college-bound Black and African American students. Those graduates who meet the commitments of the program will be guaranteed a full-time job working at Visa. The company also announced in a Wednesday blog post that it would double match up to $1 million in employee donations during June for those who donate to the NAACP Legal Defense and Education Fund, The American Civil Liberties Union, or the National Urban League. "Visa is committed to do more to help stop discrimination and racial injustice in America," the blog post said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatchJun 03, 2020
NewsWatch: The Nasdaq trades within 2% of a record high as the unbearable lightness of the stock market continues
After a brutal March wrecked an 11-year bull market, there seems be little doubt on Wednesday that equity markets in the U.S. are returning to bullish form again after being rocked by COVID-19.

Yahoo BusinessJun 03, 2020
Private Equity Gets a Big Win With U.S. Nod to Tap 401(k) Plans
(Bloomberg) -- Private-equity firms notched a major win in Washington with the Trump administration paving the way for the industry to tap a massive pot of money that has long been off limits: the trillions of dollars held in Americans' retirement accounts.The Labor Department issued guidance Wednesday effectively allowing 401(k) plans to invest in buyout firms. The agency said the move will bolster investment options for consumers and let them access an asset class that can provide better returns than stocks and bonds.In a statement, Labor Secretary Eugene Scalia said the action "will help Americans saving for retirement gain access to alternative investments that often provide strong returns."The announcement is a significant deregulatory decision that private-equity lobbyists have sought for years. It is sure to face harsh criticism from consumer groups and progressive Democratic lawmakers, who argue that high-fee private equity firms are inappropriate for unsophisticated investors because the industry locks up clients' money for years and backs businesses seen as far more risky than a plain-vanilla bond fund.Deregulatory AgendaPublic pension funds that manage employees' retirement savings have a long history of investing in private equity. But complex regulations and concerns about being sued have until now kept individuals' 401(k) plans out. The private-equity industry has ramped up its campaign to change the rules during the Trump administration, which has made cutting back regulations

MarketWatchJun 03, 2020
Europe Markets: European stocks rise for third straight session, with investors cheered by China data
European stocks extended gains for a third day on Wednesday as investors looked past U.S. unrest to data indicating more economic strength as global pandemic lock downs unwind.
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