US stocks open mixed amid hopes

Bloomberg May 27 | Updated on May 27, 2020 Published on May 27, 2020

US stocks opened mixed amid signs the global economy is on the rebound from the pandemic hit on Wednesday, with investors shying away from high-flying tech shares in favour of equities most beaten down by the virus. The S&P 500 clung to 3,000 and its average price for the past 200 days, technical levels considered key by chart watchers. It failed to hold those levels into the close on Tuesday. For a second day, stocks most punished by the effects of the economy shutting, from Carnival Corp to United Airlines, surged as investors anticipate a sharp uptick in spending on non-essential goods and services. The S&P 500 Index gained 0.3 per cent as of 9.55 am New York time.

Published on May 27, 2020
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