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5/27, 10:00 PM (Source: TeleTrader)
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Dow jumps over 550 points at close

Stocks ended the session on Wednesday with strong gains as the Dow Jones climbed over 550 points at the close. Investors continued to monitor the reopening of the American economy while also keeping a close eye on rising tensions with China.

Meanwhile, traders shrugged off the Fed's Beige Book, which revealed economic activity and employment continued to decline in May due to the coronavirus pandemic.

The Dow added 553 points at the end of trading with American Express as the top performer. The S&P 500 rose 1.48% at the end of the session with the retail sector leading the gains as Gap, Nordstrom, and Kohl's all surged. Meanwhile, the Nasdaq 100 gained 0.55%; Micron climbed nearly 8% to the top of the chart.

Breaking the News / JC