(Reuters) - The S&P 500 and the Dow Jones indexes hit three-month highs on Tuesday as optimism about the reopening of the economy after weeks of coronavirus lockdowns countered concern over more disruptions from the street protests that have spread across the country. Stocks in the cyclical sectors, including financials, industrials and energy provided the biggest boost to the two indexes. Improving economic data, trillions of dollars in stimulus and the restarting of businesses have helped the benchmark S&P 500 recover about 40% from its March lows, leaving it only about 10% below a record high hit in mid-February. "The U.S. equity market continues to rally despite the fact that we're clearly in a recession," said Keith Bliss, managing partner at iQ Capital (USA) LLC. "Most investors believe that companies will be able to come out of this on the other side, actually in better shape.. more efficient and more streamlined."

Source: International New York Times June 02, 2020 11:04 UTC