AM Report: Global Markets Surge As COVID-19 Infection Rates Moderate

By Tom Piotrowski | More Articles by Tom Piotrowski

US sharemarkets surged on Monday in response to data showing a drop in virus-related deaths in New York City – regarded as the US hot spot for virus cases. All 30 components of the Dow Jones rose. The S&P 500 banking index rose by 8.2% with technology up 8.8% and utilities up 7.9%. The Dow Jones index rose by 1627 points or 7.7%, ending just off session highs. The S&P500 index gained 7.0% and the NASDAQ rose by 540 points or 7.3%.