Dow closes 550 points higher on upbeat data

Monday, 29. June 2020 22:02

Stock markets on Wall Street closed in the green on Monday after the National Association of Realtors (NAR) revealed that pending home sales in the United States hit a record monthly increase of 44.3%, thus sparking positive market sentiment. Meanwhile, the US Federal Aviation Administration (FAA) began the test flights for the Boeing Company's 737 MAX, but warned that the aircraft will not be returned to service until completion of the certification process. In other business news, the list of companies that joined the social media advertising boycott increased sharply during the day.

The Dow Jones Industrial Average index jumped 2.32%, or 580 points, at the close and the S&P 500 climbed 1.47% as Boeing led the gains on both indexes, surging 14.4%. The Nasdaq 100 added 1.14% as hotel company Marriott International advanced 6.99%.

The euro was 0.16% higher compared to the dollar to change hands at 1.12365 at 3:59 pm ET.

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Breaking the News / MS