How major USA stock indexes fared Friday

How major USA stock indexes fared Friday

The S&P 500 closed off 0.56%, the Dow lost 0.8% and the Nasdaq managed to eke out a gain of 0.03%.

At 10.01am ET (10.01pm SGT), the Dow Jones Industrial Average was up 205.51 points or 0.79 per cent at 26,285.61, the S&P 500 was up 25.97 points or 0.83 per cent at 3,141.31. The Nasdaq was little changed.

Apple announced that the company would re-close almost a dozen stores in four states where the number of cases of COVID is rising.

The U.S. Securities and Exchange Commission told bankrupt Hertz Global Holdings Inc it has issues with the vehicle rental firm's plan to sell new shares, the agency's Chairman Jay Clayton told CNBC on Wednesday. Earlier in the day, they hit an all-time high.

Peers Carnival Corp and Royal Caribbean Cruises Ltd also dropped about 8% each.

Arizona and Florida reported record spikes in confirmed Covid-19 cases on Friday as states continue their phased reopenings and ramping up testing.

US stock indexes closed mostly higher Thursday as caution about rising coronavirus infections in hotspots around the world put a damper on hopes for a coming economic recovery.

The quadruple witching day saw plenty of movement.

IG analyst Joshua Mahony said: "Between a potential surge in US Covid-19 cases, and a gradual shift in Trump's re-election odds, US markets are starting to look over-exposed given the size of their rally over the course of Q2".

AMC Entertainment Holdings Inc rose 0.8% on plans to reopen theaters at about 450 locations in the United States next month and the company expects to return to full-seating capacity around Thanksgiving. Investors have cheered signs that the US economy is reopening, allowing people to return to work and business activity to pick up. -China trade relations as the two countries exchange heated rhetoric regarding the coronavirus.

The S&P 500 and the Dow edged higher in choppy trading on Wednesday as hopes of a swift recovery from a coronavirus-driven downturn were dented by fears of a record rise in coronavirus cases in six USA states. Those gains came after a record surge in US retail sales and the Federal Reserve announcing it will buy individual corporate bonds.

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