Here's What Happened to the Stock Market on Wednesday.

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Here are the main market catalysts and closing values for the major US indexes on Wednesday, July 8, 2020.

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.

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