Tuesday, 01 Sep 2020 07:17 AM MYT
But while states such as New Jersey continued to ease restrictions yesterday, investors noted that across the United States, total coronavirus cases topped 6 million on Sunday as many states in the Midwest reported increasing infections, according to a Reuters tally. Technology, then healthcare and utilities stocks were the biggest percentage gainers among the 11 major S&P sectors while energy was the biggest percentage decliner.
While the splits did not provide a fundamental reason to buy the stocks, Mahajan noted that the lower prices may be making the momentum stocks more attractive to some retail investors. And the benchmark’s 35.6 per cent gain since April marked the strongest five-month run for the S&P since 1938, according to data from Bespoke Investment Group.