Dow surges 850 pts on open after retail sales, industry data

Tuesday, 16. June 2020 15:30

Major stock markets in the United States opened in the green territory on Tuesday after revelations of a 17.7% increase in retail sales and a 1.4% rise in industrial production in May 2020. Meanwhile, Oxford University coronavirus research suggested that a steroid drug dexamethasone, which costs just £5, reduces the risk of death from COVID-19 in patients on ventilators by a third and in patients on oxygen by one fifth.

The Dow Jones Industrial Average jumped 3.36% or 864 points at the opening bell's sound as Boeing grew 7.83%. The Nasdaq 100 went up by 2.12% with Baidu increasing by 7.77%. The S&P 500 increased by 2.73% with Vulcan Materials rising by 12.73%.

The euro declined 0.40% compared to the dollar, with the exchange rate of 1.12781 at 9:27 am ET.

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Breaking the News / JR