Stocks closed broadly higher on Wall Street Monday, propelling major indexes up more than 7%, as traders cheered glimmers of hope that the deadliness of the coronavirus outbreak could be slowing in some of the hardest-hit areas.
New York’s governor said the rate of increase of deaths could be approaching a plateau, but he cautioned it was far too early to say the worst had passed. European and Asian markets also rose. Bond yields rose as investors became somewhat less pessimistic about prospects for the economy. The price of oil fell after a meeting between big producers about cutbacks was postponed.
The S&P 500 index rose 175.03 points, or 7%, to 2,663.68.
The Dow Jones Industrial Average gained 1,627.46 points, or 7.7%, to 22,679.99.
The Nasdaq climbed 540.15 points, or 7.3%, to 7,913.24.
The Russell 2000 index of smaller company stocks picked up 86.72 points, or 8.2%, to 1,138.78.
For the year:
The S&P 500 is down 567.10 points, or 17.6%.
The Dow is down 5,858.45 points, or 20.5%.
The Nasdaq is down 1,059.37 points, or 11.8%
The Russell 2000 is down 529.69 points, or 31.8%.
Top 8 Companies That Are Adapting to a Post-Coronavirus World
The unintended consequences of the coronavirus pandemic are being played out in homes and apartments throughout the world. More and more employees are working from home, that’s if they have a job to go to. Entire industries are effectively shut down as the world attempts to slow the spread of the virus.
At some point, however, things will return to normal. But it will be a new normal. There are many businesses that won’t reopen, and many industries that will forever be changed. As an investor, now is the time to get out your crystal ball. Timing the market is a fool’s errand. But looking at what industries are positioned to thrive in a world that will be changed by the coronavirus is a prudent strategy.
We’ve identified 8 companies that are adapting to what the economy will be like in a post-coronavirus world. It will undoubtedly be more digital than it already is. Supply chains may become more vertically integrated as “Made in America” may take on a whole new meaning. As will the idea of working from home, going to a concert, or even preparing a meal.
View the "Top 8 Companies That Are Adapting to a Post-Coronavirus World".