Here's What Happened to the Stock Market on Wednesday.
All major US indexes posted significant gains on Wednesday, according to CNBC.
- The Dow Jones Industrial Average gained 177.10 points, or 0.68 percent, to close at 26,067.28.
- The S&P 500 gained 0.78 percent to close at 3,169.9.
- The Nasdaq Composite lost 1.44 percent to close at 10,492.50.
Big technology companies posted significant gains. Microsoft shares gained 2.20 percent, Apple gained 2.23 percent to close at a record high, Amazon shares gained 2.70 percent, and Netflix gained 1.95 percent. “It seems like you flip a switch when those Covid cases go up, the country takes a step back in terms of reopening the economy and all those names find high demand,” said one trader.
Stocks continued to rise despite US coronavirus cases passing the 3 million mark. On Tuesday, the US reported a record surge of more than 60,000 coronavirus cases.
Weekly jobless claims data are set to be released Thursday morning.