Stocks bounced today on positive coronavirus news — here’s what 3 market experts had to say. Follow along with the latest stock market updates here:
Stocks in the battered travel sector have notched strong gains in early trading as investors react to improving health data from Europe and New York City, signaling that lockdowns and shelter-in-place orders may be lifted sooner than feared. Wynn Resorts rose 16%, while MGM gained 12%. The three major cruise line stocks — Carnival, Royal Caribbean and Norwegian — all posted double digit gains. Major airlines were also trading slightly higher.
Shares of Nordstrom rallied more than 15% in morning trading, but is still down more than 60% this year. Kohl's and Macy's rose 17% and 14%, respectively. —The Dow Jones Industrial average is more than 20% off its 52 week low of 18,213.65, which it hit on March 23. However, the 30-stock average is still more than 25% below its intraday all-time high on February 12. The S&P 500 is more than 18% above its 52 week low of 2,191.
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