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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 MarketWatch.com for more information on this news.



Google Business NewsJun 03, 2020
Dow Jones Futures: Dow Catching Up As Coronavirus Stock Market Rally Booms; Smartsheet, Cloudera Dive On Guidance - Investor's Business Daily
Dow Jones Futures: Dow Catching Up As Coronavirus Stock Market Rally Booms; Smartsheet, Cloudera Dive On Guidance  Investor's Business DailyDow rallies more than 500 points, S&P 500 posts longest winning streak since February  CNBCS&P 500 opens above 3,100 points, DJIA gains nearly 1%  FXStreetPre-Retirees Need To Realize Which S&P 500 They Are Buying  ForbesS&P 500 An

NYTimes BusinessJun 03, 2020
Stocks Rally as Reopening Remains in Focus: Live Updates
The latest on stock market and business news during the coronavirus outbreak.

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 MarketWatch.com for more information on this news.


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