Nasdaq ends at record, confirms bull market on economic recovery hopes

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The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

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(Reuters) – The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson/File Photo

Advancing issues outnumbered declining ones on the NYSE by a 4.61-to-1 ratio; on Nasdaq, a 3.02-to-1 ratio favored advancers.

The S&P 500 posted 18 new 52-week highs and no new lows; the Nasdaq Composite recorded 83 new highs and no new lows.

Volume on U.S. exchanges was 16.46 billion shares, compared to the 12.35 billion average for the full session over the last 20 trading days.

Additional reporting by Devik Jain and Medha Singh in Bengaluru; Editing by Cynthia Osterman


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Author:

The Nasdaq posted a record closing high on Monday, becoming the first of the major indexes to confirm a new bull market, while the S&P 500 ended in positive territory for the year as expectations for a swift recovery from a coronavirus-driven downturn increased.

Source: {authorlink}

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