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Reuters Company NewsMay 26, 2020
US STOCKS-S&P 500 rises on economic recovery and vaccine hopes, pulls back from highs
* Indexes up: Dow 2.17%, S&P 1.23%, Nasdaq 0.17% (Updates to close, adds commentary)

MarketWatch MarketPulseMay 26, 2020
Dow closes 500 points higher as optimism builds for economic reopening
U.S. stocks closed sharply higher Tuesday as markets focused on evidence of the global economy reemerging from COVID-19 shutdowns and some signs of progress on the race for a vaccine. The Dow Jones Industrial Average rose 530 points, or 2.2% to close around 24,995 and the S&P 500 index gained 36 points, or 1.2% to finish the session near 2,992. The Nasdaq Composite index rose 16 points, or 0.2%, to close at about 9,340. Sentiment was buoyed by news that Novavax Inc. had started human trials of a COVID-19 vaccine. Also fueling gains were recent data showing U.S. air travel has risen and evidence that restaurants and freight trucking were seeing greater demand. Airline stocks surged Tuesday, with the US Global JETS ETF gaining 11.2% on the day, led by shares of Delta Air Lines Inc. , United Airlines Holdings, Inc. and American Airlines Holdings Inc. , all of which posted double-digit gains. The session was also colored by evidence of a rotation out of what has been a defensive technology sector into cyclical names that benefit during economic recoveries. Financial stocks posted the biggest gains on a sector basis, with the Financial Select Sector SPDR Fund rising 5.3% on the day.

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.



FT.com - Financial MarketsMay 26, 2020
European stocks rise as lockdown easing boosts sentiment
Loosening of coronavirus restrictions helps investors shrug off US-China tensions
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