06/01/2020

Wall Street Closes Higher as Recovery Signs Soothe Protest, Pandemic Worries

Most investors believe the protests won't destroy the economy

U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions.

All three major stock indexes began the month with gains of less than 1 percent on the heels of a strong May rally. Market leaders Amazon, Apple and Facebook provided the biggest lift to the S&P 500 and the NASDAQ, while Boeing Co. gave the Dow its biggest boost.

“Certainly, the pace of the stock market recovery can’t continue at the pace it has been,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “I’m stunned at how well the market’s been doing.”

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