Dow Jones Breaks 250, American Airlines Shares Double

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The S&P 500 wiped out its 2020 losses after market recovery on Monday morning, American Airlines stock prices doubling in the space of a month, prompting President Trump to declare it was a ” big day “.

The S&P 500 was up 0.5% in the first few minutes of trading Monday, bringing it down to 5.2% from its record set in February. But Monday afternoon, it was up 1.2%, or 38.46 points, to 3,232.39. It was up 47% from its March low due to the cessation of the coronavirus pandemic.

The Dow Jones Industrial Average rose more than 263 points Monday morning and by afternoon it was up 461.46 points, or 1.7%, to 27,572.44.

As more and more major cities in the United States, such as New York and Las Vegas, began to reopen, the Nasdaq composite initially rose 0.1%, but rose 1.1%, or 110.66 points, to 9,924.74.

The market got a boost last Friday when the government said employers added 2.5 million jobs to their payroll last month, even though economists expected to see 8 million more more lost.

“Big day for the stock market. Smart money and the world know we are going in the right direction, “Trump tweeted. “Jobs are coming back QUICKLY. Next year will be our best year!

President Trump said on Monday that it was a

President Trump said on Monday that it was a “big day for the stock market” after the Dow Jones rose more than 250 points and American Airlines announced that stocks had doubled in a month

On Monday afternoon, the S&P 500 was up 1.2%, or 38.46 points, to 3,232.39. It rose 47% from its March low when it was affected due to the cessation of the coronavirus pandemic (photo)

On Monday afternoon, the S&P 500 was up 1.2%, or 38.46 points, to 3,232.39. It rose 47% from its March low when it was hit due to the end of the coronavirus pandemic (photo)

The Dow Jones Industrial Average continued to climb on Monday and rose 461.46 points, or 1.7%, to 27,572.44.

The Dow Jones Industrial Average continued to climb on Monday and rose 461.46 points, or 1.7%, to 27,572.44.

The Nasdaq was initially up 0.1% on Monday, but rose 1.1%, 110.66 points to 9,924.74.

The Nasdaq was initially up 0.1% on Monday, but rose 1.1%, 110.66 points to 9,924.74.

Inventories have risen since the end of March, initially on a relief after the Federal Reserve and Capitol Hill pledged to support the economy and, more recently, on the hope that the recovery will happen faster than expected .

Stocks surged on Friday as the tech-rich Nasdaq is approaching a striking distance from its historic high on February 19 after the unexpected drop in unemployment in May.

Across the country, states are slowly easing restrictions on businesses designed to slow the spread of the coronavirus epidemic, raising hopes that the economy will recover from its coma.

The Department of Labor’s employment report on Friday found the unemployment rate fell to 13.3% last month from 14.7% in April, helped by restaurants and bars, which added 1 , 4 million jobs after losing 6 million in April and March.

As optimism reinforces that the worst of the coronavirus-induced recession may have already passed, New York began reopening the phase on Monday, allowing construction and “nonessential” retailers to start operating again with certain restrictions.

American Airlines shares were up 7% from Friday's pre-market. At $ 19.90, stocks had doubled from the same period last month and increased 94% from two months ago

American Airlines shares were up 7% from Friday’s pre-market. At $ 19.90, stocks had doubled from the same period last month and increased 94% from two months ago

AA said it plans to increase capacity by 55% in July compared to last year

AA said it plans to increase capacity by 55% in July compared to last year

Hammered shares of cruise line and airline operators, including Carnival Corp, Royal Caribbean Cruises Ltd, American Airlines and United Airlines Holdings, rose from 7% to 16.5% in pre-market trade.

Planemaker Boeing Co gained 8.2%, which should add to its 40% increase last week.

American Airlines shares were up 7% from Friday’s pre-market. At $ 20, stocks had doubled from the same period last month and increased 94% from two months ago. AA said it plans to increase its capacity by 55% in July compared to last year.

Since Friday, shares of Delta Air Lines (DAL) have risen 5.7% to $ 36.12 each, but so far this year, shares have declined more than 44%.

Compared to last week, United Airlines (UAL) was up 7.5% to $ 45.59, Southwest Airlines (LUV) shares were up 3.25% to $ 39.42 each and shares of JetBlue Airways (JBLU) were valued 6.8% more at $ 14.64 each.

The TSA announced on Sunday that there was a 30% increase in traffic at checkpoints compared to last week, exceeding 400,000 passengers for the first time since March 22.

Compared to the same period last year, traffic is still down 83%.

It follows modest movements in Europe and Asia, while yields on treasury bills have remained near their highest levels for months.

Treasury bill yields have risen in recent days, reflecting growing market expectations for the economy and inflation. The 10-year Treasury yield fell to 0.89% from 0.90% on Friday evening, but it increased sharply from 0.66% a week earlier.

A too rapid rise in yields could, however, slow spending and the expected economic recovery. It can also be a heavyweight on the stock market.

Higher yields make bonds more attractive as investments, which would divert some dollars from investors from stocks. High dividend stocks are likely to be particularly affected as some income investors turned to them instead of bonds when yields were lower.

Meanwhile, the stocks that would most benefit from a growing economy have led the market to continue its recent trend.

Energy producers, banks and industrial companies led the S&P 500.

Small business stocks have risen more than the rest of the market, which often happens when expectations for the economy rise. The Russell 2000 Small Cap Index rose 1.7%.

The exchanges were closed on March 23 in response to the coronavirus pandemic. In the photo, a view of the New York Stock Exchange entrance on May 28 in New York

The exchanges were closed on March 23 in response to the coronavirus pandemic. In the photo, a view of the New York Stock Exchange entrance on May 28 in New York

Trade reopened on May 26. In the photo, Andrew Cuomo rings the opening bell with NYSE President Stacey Cunningham

Trade reopened on May 26. In the photo, Andrew Cuomo rings the opening bell with NYSE President Stacey Cunningham

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