Dow futures were pointing to an over 350 point drop at today’s open following the overnight announcement that U.S. President Donald Trump and first lady Melania Trump tested positive for coronavirus.
On Wednesday Wall Street stocks rose on good jobs data and revived hopes for a US stimulus package as markets digested a contentious presidential debate. About 45 minutes into trading, the Dow Jones Industrial Average was up 1.3 percent at 27,803.29.
The US stock and the Dow market are rallying on Monday, attempting a rebound from recent turbulent trading as well as the first two-week losing streak in more than four months.
Nvidia shares popped more than 6% in the premarket after the company announced it would buy fellow chipmaker Arm Holdings from SoftBank. The deal is valued at $40 billion and Nvidia will finance it through a combination of common stock and cash.
On Thursday the Dow Jones Industrial Average was down 548.34 points, or 1.9%, at 28,552.16, after dropping more than 800 points at its session low. The S&P 500 slipped 91.57 points, or 2.6%, to 3,489.27. The Nasdaq Composite tumbled 463.53 points, or 3.8%, to 11,592.91. All three indexes are on track to record losses for the week.
On Tuesday Stocks fluctuated after the S&P 500 touched a fresh record intraday high. The Dow shed more than 100 points, while the Nasdaq held onto narrow gains.