The New York Stock Exchange closed the last session of the positive second quarter on Tuesday to end with the largest quarterly increase in more than two decades.
According to provisional closing results, the Dow Jones advanced 0.84% to 25,811.65 points, the Nasdaq 1.87% to 10,058.77 units and the S&P 500 gained 1.53% to 3,100.29 points. Between April and June, the Dow Jones gained close to 18%, something never seen since 1987. The Nasdaq climbed 31%, its biggest quarterly rise since 1999. And the S&P 500 gained close to 20%, its most important quarterly gain since 1998.
After descending in late March amid confinement due to the coronavirus pandemic, the large New York indexes staged a spectacular almost uninterrupted comeback.
Despite the increase in coronavirus cases in the south and west of the country,
Wall Street does not budge. “Overall, we believe it is possible to crush the (contagion) curve without going through a new period of confinement,” said Patrick O’Hare of Briefing.com.