Wall Street Close: Bulls take back the baton, shrug-off 3 million US COVID-19 cases


  • Dow Jones Industrial Average rose 177.44 points, or 0.69%, to 26,067.62.
  • S&P 500 gained 24.72 points, or 0.79%, to 3,170.04.
  • The Nasdaq Composite added 148.61 points, or 1.44%, to 10,492.50.

US stocks rose on Wednesday, amid a general absence of market-moving news, were making a comeback, denying the bears and resulted in the Nasdaq hitting another record closing high.

Despite the potential consequences of these spikes in new coronavirus case, patient investors continue to buy into the central bank and fiscal stimulus efforts and global economic recovery. 

US Fauci said Phase 3 vaccine trials may begin at end July, and that he is cautiously optimistic for a vaccine by year-end, and that is enough for the market to keep on the bid.

Unofficially, the Dow Jones Industrial Average rose 177.44 points, or 0.69%, to 26,067.62, the S&P 500 gained 24.72 points, or 0.79%, to 3,170.04 and the Nasdaq Composite added 148.61 points, or 1.44%, to 10,492.50.

US COVID-19 surpassed 3 million

US cases of COVID-19 surpassed 3 million overnight, affecting nearly one of every 100 Americans. California, Hawaii, Idaho, Missouri, Montana, Oklahoma and Texas broke their previous daily record highs for new infections.

Fed’s Bostic reiterated that the infections spikes are clouding the reopening outlook, but broad shut down isn’t expected. 

Meanwhile, US-China tensions continue to bubble. US Kudlow said the US has issues with China but a trade deal is not dead.

DJIA levels

 

Overview
Today last price 25876
Today Daily Change -246.00
Today Daily Change % -0.94
Today daily open 26122
 
Trends
Daily SMA20 25855.4
Daily SMA50 25237.32
Daily SMA100 24432.9
Daily SMA200 26245.2
 
Levels
Previous Daily High 26182
Previous Daily Low 25980
Previous Weekly High 26198
Previous Weekly Low 24974
Previous Monthly High 27628
Previous Monthly Low 24562
Daily Fibonacci 38.2% 26057.16
Daily Fibonacci 61.8% 26104.84
Daily Pivot Point S1 26007.33
Daily Pivot Point S2 25892.67
Daily Pivot Point S3 25805.33
Daily Pivot Point R1 26209.33
Daily Pivot Point R2 26296.67
Daily Pivot Point R3 26411.33

 

 

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