How major United States stock indexes fared Wednesday

Wall St. feathers on financials economy hope

US stocks open higher

The Nasdaq Composite, which has risen sharply in recent weeks, was up a more modest 0.77 percent. On Wednesday, Walt Disney Co announced plans to begin reopening its Walt Disney World resort in Florida, the world's largest theme park, in phases beginning July 11, and MGM Resorts said it would reopen its four Las Vegas casinos on June 4.

US stocks surged upward again Wednesday, producing a second consecutive day of more than a 500 point gain in the Dow Jones Industrial Average. Secretary of State Mike Pompeo said Wednesday that Hong Kong no longer warrants special treatment under USA law as it did when it was under British rule, potentially a big blow to its status as a major financial hub. "The S&P 500 finally breaks above its 200-day moving average (3000)" and "more new vaccine drugs look promising".

All 50 states in the United States have reopened in some way.

"For the first time in this crisis, we are being bombarded by good news", said Jim Paulsen, chief investment strategist at the Leuthold Group.

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JPMorgan Chase rose 5.79 percent, Bank of America gained 7.0 percent and Citigroup jumped 8.5 percent.

But losses for big tech tempered the market's advance. The S&P 500 - a gauge of U.S. retirement and education savings accounts rose 44.36 points, or 1.5%, to 3,036.13. Amazon lost almost 0.5 percent and Nvidia dropped 2.4 percent. The president of the European Commission called it "an ambitious answer", though it still needs to be endorsed by every country in the European Union.

In Europe markets finished higher, as Britain's FTSE-100 gained 1.26%, while France's CAC-40 climbed 1.79% and Germany's DAX rose 1.33%.

In Asia, Japan's Nikkei 225 rose 0.7%, but other markets were weaker. The Hang Seng in Hong Kong slipped 0.4 percent, and stocks in Shanghai lost 0.3 percent.

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Amid the recent gains, US tensions with China have cast a cloud on markets.

The yield on the 10-year Treasury fell 2.58% to 0.68% while yield on the 30-year Treasury dropped 0.35% to 1.434%.

Seevol.com reported a 4.26-million-barrel decline for the week to May 22 at the Cushing, Okla. hub that stores crude delivered against expiring spot contracts of WTI. Brent crude, the global standard, lost 0.1 percent to $35.40 per barrel.

English Premier League to restart on June 17, say reports
At least 25 of the 92 remaining Premier League matches will be shown on live TV on a "free to air" basis. The goal is to complete the 90 remaining games by August 1.


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