Wall Street Opens at Record Highs After Long Weekend; Dow up 105 Points

© Reuters.

By Geoffrey Smith

Investing.com — U.S. stock markets opened higher after the long weekend, with risk appetite emboldened by a sharp drop in coronavirus cases and reassurances about enduring support from the Federal Reserve.

By 9:35 AM ET (1435 GMT), the was up 105 points, or 0.3% at 31,564 points. The was up 0.2% and the was up 0.3%. All three indices hit record highs in the first minutes of trading.

The moves came after St. Louis Federal Reserve President James Bullard played down suggestions that the Fed’s loose monetary policy was fueling an asset bubble, either in stocks or in assets such as , which topped $50,000 for the first time earlier in the day. Bullard dismissed the current action in stocks as “just normal investing.”

Among individual movers, Palantir Technologies Inc (NYSE:) stood out with a 7.1% drop as investors trimmed exposure ahead of the scheduled end of the cyber-security firm’s post-IPO lockup on Friday. The group’s quarterly update released earlier failed to provide enough reassurances about the long-term outlook to support holders.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Aston Martin sacks chief Andy Palmer after shares plunge

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here