Stocks Extend Rally As Dow Rises More Than 500 Points

Dow Jones Industrial Average jumped more than 500 points Thursday as equity markets generally recovered and recouped losses from yesterday’s sharp decline.

The blue-chip index rose 571 points to 30874 in the latest trade, while the S&P 500 gained 1.8%. Technology stocks also advanced, pushing the Nasdaq Composite up 1.3%.

At the same time, wild stocks trade around stocks like.

GameStop

CMA Entertainment Programme

have shown signs of weakening. GameStop stock has fluctuated and recently dropped 40%, while MAC stock has dropped more than 50%.

The two traded stocks caught the attention of Wall Street and Main Street, and their parabolic rise coincided with the biggest stock sell-off in months on Wednesday. The decline in stock prices follows a strong start to the year, which some investors believe has driven stock prices above levels justified by corporate fundamentals.

There is some overexcitement in the market, he said.

Olaf van den Heuvel,

Investment Director at Aegon Asset Management in the Netherlands, and cited the sharp rise in GameStop shares as an example. It was bubble territory.

Revenues seem to have contributed to the recovery. Actions

American Airlines group

jumped 10 percent after the airline reported fewer losses than analysts had expected. Other titles in the travel sector grew, including United Airlines (+4%) and Carnival (+6%).

Actions

Apple,

Meanwhile, shares fell nearly 2% after the iPhone maker announced the three most profitable months in its history, but gave no specific earnings forecast for the current quarter.

Tesla fell 2% after the maker of electric cars, whose shares have soared in recent months, announced its first-year profit but failed to meet Wall Street expectations.

Visa

International Monetary Fund Mondelez

It is intended that the results will be published after the conclusion. Both have traded higher recently.

It’s a nervous breakdown, he says.

Remy Olu-Pitan,

Fund manager at Schroders, who leads large equity moves as day traders share their advice online.

She said slow progress in Europe on vaccines and the restrictions imposed by Covid 19 in key countries will also have an impact on stocks.

The stock’s recent plunge occurred amid wild swings in some stocks, including GameStop and AMC Entertainment.

Photo:

Courtney Crowe/Associated Press

Strong stock and options trading also has implications for other markets, such as

Peter Garnry,

Head of Capital Strategy at Saxon Bank. Hedge funds have taken steps to hedge the decline in stocks by targeting individual investors through Social Media He said this increased volatility and prompted other funds to sell, which he said affected benchmarks.

The weekly data showed that the number of applications for unemployment benefits, which is considered an indicator of the health of the labor market, fell last week, but remained at 847,000. Some indicators showed that gross domestic product, a broad measure of the value of goods and services produced in the economy, grew at an annualized rate of 4 percent in the final quarter of 2020, slightly slower than economists had expected.

The data came after the U.S. Federal Reserve kept monetary policy loose on Wednesday and said business activity weakened due to the extension of the 19 Covid deals.

Markets

A pre-marketing guide packed with news, trends and ideas. Plus: the latest market data.

In a sign of rising risk aversion, 10-year US government bond yields fell below 1% for the first time since the sixth quarter. January before rising to 1.008%.

Tradeweb.

Bond yields fall as prices rise. Falling yields are often an indicator that investors see a weakening economic outlook.

The shares are mainly traded abroad. The pan-continental Stoxx Europe 600 has generally remained stable in recent years Hong Kong’s Hang Seng was down 2.6%, Shanghai’s composite index was down 1.9% and Japan’s Nikkei 225 was down 1.5%. Container giant Cosco Shipping suffered losses in mainland China, down 10%.

-Michael Wursthorn and

Caitlin Ostroff.

contributed to this article.

Email Joe Wallace at [email protected] and Chong Ko Pin at [email protected]

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