The market is aiming for a third day of gains in a row. The Dow Jones Industrial Average was down 0.8%, nearly 200 points lower, on Tuesday, while the S&P 500 fell 0.6% and the Nasdaq Composite gained 0.7%. Stocks have moved higher in recent weeks amid increasing optimism on Wall Street over several states—including Georgia, Florida, Texas and California—beginning to reopen businesses and lift coronavirus lockdowns. Investors also grappled with more dismal economic data: ADP and Moody’s Analytics showed private payrolls dropping by 20.2 million in April, the worst monthly job loss in the history of that report. Big tech stocks continued to outperform the market: The five FAANG stocks—Facebook, Apple, Amazon, Netflix and Google parent Alphabet—all finished higher on Wednesday.

Source: Forbes May 06, 2020 13:37 UTC