Nasdaq Claims New Record High on SPCE Blast-Off
Zacks Investment Research | Jun 22, 2020 05:29AM ET
Again, U.S. market indexes found the energy for a late-day kick going into Monday’s close, with the Dow finishing +0.59%, the S&P 500 +0.66%, the small-cap Russell 2000 +1.05% and the tech-heavy Nasdaq — marking its 20th all-time high so far in year 2020 — finished up 1.11%, or slightly north of 10,056. The Nasdaq, now on a 7-day winning streak, got a boost from Virgin Galactic’s Why Is Virgin Galactic (SPCE) Jumping Today? Monday was quiet on the economic data front, but things will heat up mildly as the week continues. Tuesday brings June’s Markit PMI Manufacturing and Services reads and New Home Sales for May, Wednesday gives us the IMF World Economic Outlook, with its Global Financial Stability report due Thursday. This will join new Initial Jobless Claims and a revised Q1 GDP report. Next week, which will be shortened due to the Independence Day holiday, will nevertheless bring us big monthly labor market data. Alongside Initial Jobless Claims, a private sector ADP release with join the non-farm payroll data and a fresh Unemployment Rate.
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