Dow Jones, US Stocks Rise As Countries Begin To Reopen Economies – Investor's Business Daily

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The Dow Jones rose on the stock market today, as countries around the world began to reopen their economies amid the Covid-19 pandemic recovery.


As of around noon, the Dow Jones Industrial Average gained 366 points, or 1.5%. Meanwhile, the S&P 500 advanced 1.5% and the Nasdaq added 1.2%.

Investors turned bullish at the notion that stimulus measures and the easing of lockdown conditions worldwide will help boost economic activity. In the U.S. over the weekend, some states allowed retailers and salon-type businesses to reopen. In addition, countries including Italy and Spain signaled that they may loosen restrictions in the coming weeks.

New York Gov. Andrew Cuomo on Sunday said the state plans to reopen its economy in phases.

Finally, a flood of U.S. companies — including Dow giant Apple (AAPL), Amazon (AMZN), Tesla (TSLA) and Facebook (FB) — are slated to report their Q1 earnings in the coming days.

The Dow Jones Today

U.S. stocks traded higher across the board on Monday in higher volume, led by the financial sector.

The Dow Jones industrials currently looks poised to close above the 50-day moving average for the first time since Feb. 21, when the stock market crash began. On Feb. 25, IBD downgraded the outlook on stocks to “market in correction.” The market outlook has since been upgraded to confirmed market uptrend again earlier this month, following a follow-through signal for the S&P 500 on April 2.

Over in the Dow Jones, roughly 24 out of the 30 blue-chip components rose on the stock market today, with 19 rising 1% or more. Stocks showing strength included financials like Goldman Sachs (GS) and JPMorgan Chase (JPM), as well as industrial giant 3M (MMM).

Apple (AAPL) fell 0.1% on the stock market today, due to a report that the company would be delaying production of new iPhones by about a month. Consumer demand for Apple products remains somewhat dented by the coronavirus pandemic. Apple reports Q1 earnings on Thursday.

Despite Apple being among the worst performers in the Dow Jones today, it remains one of the few blue chips with bullish chart action. Shares of Apple are currently forming a cup-with-handle base with a 288.35 buy point.

Stocks On The Move

The growth-focused Innovator IBD 50 ETF (FFTY), which gained 25.7% in 2019, rose 1.8% on Monday.

Stocks on the move include Zoom Video (ZM), Emergent BioSolutions (EBS) and Zynex (ZYXI).

Top coronavirus stock play Zoom Video traded nearly 5% higher, as the stock is now soaring nearly 30% above its 50-day line.

According to MarketSmith chart analysis, shares of Zoom Video maintain a best-possible 99 Composite Rating and a 99 Relative Strength Rating. The stock’s RS line remains near all-time highs.

According to an IBD study, the biggest stock market winners showed an average RS Rating of 87 or higher on a scale of 1 to 99 at the start of their huge price runs.

Among other top-performing stocks, Emergent BioSolutions rose over 6% Monday. The stock broke out past a 71.29 consolidation buy point last week and remains extended past its 5% buy zone. Emergent BioSolutions maintains a 96 Relative Strength Rating and its RS line is hitting all-time highs.

Follow Fox on Twitter at @foxonstocks for more Dow Jones insight and commentary on the recent stock market crash.


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