Tag: concerns

Stocks jump, Nasdaq powers to record high as investors look past virus concerns

Stocks rose sharply Monday morning, after new economic data showed a much stronger than expected rebound in US service sector activity in June. The upbeat data helped investors shake off fears over rising coronavirus cases, with infections continuing to march higher globally and domestically.

[Click here to read what’s moving markets heading into Tuesday, July 7]

The three major indices also followed global equities higher, with stocks in Europe and Asia gaining after an editorial in China’s state-run media outlet the Securities Journal suggested the country prioritize fostering a “healthy” bull market after the pandemic. The Shanghai Composite index closed

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