New York, New York (PPD) — U.S. equity markets are soaring higher on Monday amid signs the spread of the coronavirus (COVID-19) is slowing in New York, the epicenter for the nation.
UPDATE: The Dow Jones Industrial Average (^DJI) closed +1,627.46, or +7.73% higher to 22,679.99. The S&P 500 (^SPX) closed up +175.03, or +7.03% to 2,663.68. The NASDAQ Composite (^IXIC) closed +540.16, or +7.33% higher at 7,913.24.
The Russell 2000 (^RUT) soared +86.73, or +8.24% to close at 1,138.78.
PREVIOUS: As of 1:56 PM EDT, the Dow Jones Industrial Average (^DJI) shot +1,246.28, or 5.92% to 22,298.81. The S&P 500 (^SPX) soared +145.50 (5.85%) to 2,634.15. The NASDAQ Composite (^IXIC) rose +433.05 (5.87%) to 7,806.13.
The Russell 2000 (^RUT) was +69.81 (6.64%) to 1,121.86.
At his daily press conference on Sunday, Governor Andrew Cuomo, D-N.Y., said the total number of new cases statewide had decline for three days in a row. On Monday, he said the state be at the beginning of the APEX, the highest point before the flatten the curve.
“It’s hopeful,” he added with a caveat. “It’a also inconclusive, and also depends on what we do.”