Market Week: April 13, 2020
In observance of Good Friday, the stock market closed for business at the final bell last Thursday. The week started out with a bang as stocks soared in value on Monday with each of the benchmark indexes posting sizable gains. Investors were buoyed by the latest data, which showed that the spread of COVID-19 may be slowing in New York, the epicenter of the pandemic in the United States. The Dow, S&P 500, and Nasdaq enjoyed the largest single-day gains since March 24. Unfortunately, the gains were given back on Tuesday as investors wondered whether the virus was actually slowing. Oil prices sank and bond prices dropped, pushing yields higher.
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