October 30, 2020


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S&P 500 and Nasdaq set new records on Wall Street

S&P 500 and Nasdaq set new records on Wall Street

The New York stock exchanges left trading on Monday, and the broadly curated S&P 500 and technology dial indicator Nasdaq built to record levels on Friday. Wall Street investor sentiment was bolstered by positive reports on coronavirus treatment and a possible acceleration in vaccine approval in the US.

The Dow Jones Index rose 1.4 percent to 28,308.46 points. The S&P 500 rose 1 percent to 3,431.28 points and the Nasdaq rose 0.6 percent to 11,379.71 points.

President Donald Trump would consider speeding up an experimental corona vaccine so that it can be used in emergencies in the US ahead of the November 3 elections. The FDA has also accelerated plasma therapy against Covid-19 on Trump’s direction.

Companies in the travel sector grew strongly. Airlines such as American Airlines, United Airlines, and Delta Air Lines rose to 10.5 percent. The cruise lines Carnival, Royal Caribbean Cruises and Norwegian Cruise Line grew by 10 percent.

Tech giant Apple continued its advancement of the past. The share rose 1.2 percent for the first time above the $ 500 mark. Apple is recently valued at more than $ 2 trillion.

In addition, the markets are waiting for the outcome of the Federal Reserve’s annual symposium. Fed Chairman Jerome Powell will speak on Thursday about the long-awaited political framework for the roof of the US central bank. Particular attention is paid to the Fed’s inflation strategy.