The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City, New York, US, March 9, 2020. ― Reuters pic
The Nasdaq became the first of Wall Street’s main indexes to confirm it entered a bull market two-and-a-half months earlier, as a rally in US stocks accelerated last week after strikingly upbeat May jobs data strengthened views the worst of the economic fallout from the pandemic was over. “Markets may be moving based on where the economy will be a year from now versus, say, six months from now.”
At 9:52am ET, the Dow Jones Industrial Average was down 362.63 points, or 1.32 per cent, at 27,209.81, the S&P 500 was down 33.47 points, or 1.04 per cent, at 3,198.92. The Nasdaq Composite was down 32.98 points, or 0.33 per cent, at 9,891.77.In a bright spot, Macy’s Inc jumped four per cent after the department store chain said its 450 reopened stores were performing better than expected.
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