US stocks rise at the start amid hopes the economy will recover

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Monday 6 July 2020 09:48 PM

Window on the World – Live: US stock indices rose at the beginning of trading on Monday, to rise the “Dow Jones” industrial about 400 points amid hopes the economy will recover from the effects of the ongoing crisis.

Today, Wall Street was supported by gains in shares of companies benefiting from the reopening of the economy, as the aviation sector increased by about 2 percent.

American billionaire “Warren Buffett” announced the conclusion of his first major deal this year amid turmoil in global markets.

Uber shares also rose after the company said it was buying the food delivery app “Postmates” in a $ 2.65 billion comprehensive stock deal.

Final reading data for the service activity and the non-manufacturing PMI in the US will be announced later today.

By 1:35 pm GMT, the Dow Jones Industrial Average rose 1.5 percent to 26,223.6 points, which is equivalent to 396.2 points.

The “Standard & Poor’s” index increased by 1.4 percent to the level of 3173.3 points, and the “NASDAQ” index rose by 1.6 percent to record 10,372.9 points.

During the same period, the main dollar index, which tracks the performance of the green currency, declined against 6 major currencies, about 0.5 percent, to record 96,675 points.

Source: Mubasher (Economy)







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