Investors on Wall Street lead a stock market rally on Monday on the back of weekend data that shows that social distancing measures in the U.S. may be working to slow the spread of the coronavirus. The Dow Jones surged over 1,600 points and the S&P 500 and Nasdaq both rose over 7% from market optimism. Although it is still too early to know for sure, the number of confirmed cases across the U.S. have slowed during the past three days, bring hope to the uncertain market.
However, the death toll continues to rise exponentially. On Sunday, U.S. Surgeon General Vice Admiral Jerome Adams told Fox News that this week is "going to be the hardest and saddest week of most American's lives...this is going to be our Pearl Harbor moment, our 9/11 moment, only its not going to be localized."
Here's how the market ended to start the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, Luckin Coffee
In Stock Sector News, all sectors partook in Monday's rally, with Information Technology exploding upward +8.78%. The rest of the performance gains were as follows: Utilities +7.85%, Consumer Discretionary +7.73%, Materials +7.60%, Financials +7.46%, Real Estate +7.21%, Industrials +7.02%, Communication Services +6.70%, Health Care +5.40%, Energy +5.15% and Consumer Staples +3.92%.
In Commodity and Currency News, oil prices plummeted after an OPEC decision delay, marking oils first loss in 3 sessions. West Texas Intermediate