October 29, 2020

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S&P 500 nears best August in 34 years, Dow Jones in Green for 2020 | NOW

S&P 500 nears best August in 34 years, Dow Jones in Green for 2020 | NOW

The S & P 500, the most important American stock index, on which Apple, Amazon and Microsoft are listed, is aiming for the best month of August in 34 years. The leading index rose by 6.8 percent in August. If the index doesn’t fall on Monday, that month will be the best since it rose 7.1 percent in 1986.

The S&P 500 began rising in mid-March after the corona crisis wiped out more than a third of the stock index’s value. Since then, the line has almost only risen and the S&P 500 index has even hit a record high since mid-August.

The leading stock index’s growth for months has been largely due to optimism about a vaccine against the coronavirus and actions by central banks and governments. Tech companies such as Amazon, Apple, Google and Microsoft do particularly well on the stock exchanges. The stock markets in the United States are not bothered by the deep red numbers from national governments.

In addition to the high scores of the S&P 500, the well-known Dow Jones Index does well. On Friday, the index closed 0.6 percent higher, bringing the Dow Jones into the green for 2020. The Nasdaq Tech Index reached a record high in June.