Here's What Happened to the Stock Market on Thursday
All major US indexes posted significant gains on Wednesday, according to CNBC.
- The Dow Jones Industrial Average lost 361.19 points, or 1.39 percent, to close at 25,706.09.
- The S&P 500 lost 0.56 percent to close at 3,152.05.
- The Nasdaq Composite gained 0.53 percent to close at 10,547.75.
Stocks hit session lows after Florida reported a record in coronavirus-related hospitalizations. “There’s less reason for optimism now than there was in April,” said one economist. “We’re still looking at a vaccine some time early next year, but it’s become clear that it’ll be very difficult to open without causing a renewed surge” in coronavirus cases.
Walgreens dragged the Dow down as it lost 7.76 percent following its disappointing earnings. Tech shares continued their run as Microsoft and Amazon rose 0.70 percent and 3.29 percent, respectively.
The US producers purchasing index is set to be released Friday morning.