Dow climbs over 200 pts at close on upbeat data

Montag, 03. August 2020 22:00

Shares on major US stock markets strengthened at the closing bell on Monday with the Dow Jones adding over 200 index points as investors' optimism over the country's recovery from the coronavirus crisis increases fueled by upbeat data reports. According to the IHS Markit, US manufacturing activity was at its highest since January.

President of the St. Louis Federal Reserve Bank James Bullard expects the country's economy to have a "rapid" third quarter, "building on the successes" of May and June. Meanwhile, US President Donald Trump sealed an executive order to back the country's labor market by barring domestic IT companies from outsourcing its business outside the US.

The Dow gained 0.89% to finish the session as Merck added over 2%, while the S&P 500 went up by 0.72% with Varian Medical Systems soaring almost 22%. The Nasdaq 10 jumped 1.37% at the closing bell as Microsoft surged nearly 6%.

The euro slipped 0.15% against the greenback, changing hands at 1.17614 at 3:58 pm ET.

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