Stock Market

Stock Market Closes with Best Quarter In Over 20 Years

By the close of trading today, the stock market bolstered investor confidence by skyrocketing to the best quarter it’s had in over 20 years. The S&P (SPX) jumped to 19.9%, and the Dow Jones ($INDU) climbed to 17.8%. Prior to today, the most significant increase the Dow Jones had seen was in 1987, and the S&P hadn’t moved this high since 1998. Nasdaq (COMP) also climbed 30.6%.

With the markets fluctuating up and down regularly due to the effects of the coronavirus, the positive end to this quarter was welcomed by investors, and those watching for signs the economy may be on the mend.

While the economy has been ransacked pretty thoroughly since March of this year, many investors were looking to a more fruitful summer bridged on hopes of states reopening. That being said, currently, the majority of states are experiencing dangerous spikes in COVID-19 cases, with some states reversing their decisions to allow some businesses to open and pausing further movements toward reopening.

Worries over what the economy and markets will do over the next few months are concerning investors and economists alike. However, the promise of a possible second stimulus check, paired with hopes for the economy picking up soon, seemed to carry the decisions of many investors.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Trader Buzz). I have no business relationship with any company whose stock is mentioned in this article.


Related Articles

Back to top button