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US stocks surge, erasing 2020 losses

US stocks rallied again on Monday, pushing the Nasdaq to an all-time high and the S&P 500 into positive territory for the year, signaling growing optimism ab...

Posted: Jun 9, 2020 4:22 AM

US stocks rallied again on Monday, pushing the Nasdaq to an all-time high and the S&P 500 into positive territory for the year, signaling growing optimism about the pace of recovery after Friday's better-than-expected jobs report.

The Dow finished up 461 points, or 1.7% higher. The S&P 500 ended up 1.2%, erasing its losses for the year. The Nasdaq Composite ended up 1.1%, its first record close since February.

The market rally came on the same day economists officially declared the United States is in a recession, ending the longest economic expansion in American history.

It's a continuation of the remarkable turnaround for US stocks, which plunged into a bear market in mid-March when the US economy started to shut down because of coronavirus.

The broader stock market remains below the all-time high it reached February 19. But Wall Street has bet that huge, unprecedented sums of stimulus from the Federal Reserve and lawmakers will help to ease the economic pain caused by the stay-at-home orders.

Stocks continued to rise further as drug makers announced promising test results for coronavirus treatments and vaccines. And as the US economy began to reopen, that gave investors even more hope that the company's they placed their bets on will turn around in the near future.

Still, the economy has a long difficult path to recovery ahead of it. The American unemployment rate is hovering above 13% and many businesses that rely on customers entering indoor spaces, such as restaurants, movie theaters, and sports arenas, will probably not recover for quite some time.

Oregon Coronavirus Cases

Data is updated nightly.

Cases: 155597

Reported Deaths: 2208
CountyCasesDeaths
Multnomah31877528
Washington21211212
Marion18468285
Clackamas13380175
Lane10258126
Jackson8395112
Umatilla765982
Deschutes595259
Yamhill378364
Linn359056
Malheur335158
Polk306442
Klamath279155
Douglas247454
Benton234416
Josephine234050
Jefferson195828
Coos149119
Union128419
Columbia126521
Wasco122126
Lincoln113220
Hood River106929
Morrow104914
Clatsop7756
Crook77518
Baker6567
Curry4296
Tillamook4142
Lake3766
Harney2736
Grant2231
Wallowa1424
Gilliam531
Sherman530
Wheeler221
Unassigned00

California Coronavirus Cases

Data is updated nightly.

Cases: 3566914

Reported Deaths: 52158
CountyCasesDeaths
Los Angeles119192321435
Riverside2894503767
San Bernardino2866072874
Orange2612203917
San Diego2600913284
Santa Clara1106211777
Kern102627827
Fresno953931443
Sacramento932811472
Alameda806681242
Ventura77623844
San Joaquin665691101
Contra Costa62248681
Stanislaus56132946
Tulare47784758
Monterey42138328
San Mateo38998515
San Francisco34260412
Santa Barbara31805411
Solano30024164
Merced28915397
Sonoma28141298
Imperial26903591
Kings21955218
Placer19763232
San Luis Obispo19612227
Madera15467209
Santa Cruz14588183
Marin13136197
Yolo12834185
Shasta10985174
Butte10962160
El Dorado9095100
Napa903869
Sutter884597
San Benito576759
Yuba573337
Lassen560119
Tehama508152
Nevada396074
Tuolumne394659
Mendocino379643
Amador346341
Humboldt318033
Lake315641
Glenn222523
Colusa212813
Calaveras190547
Siskiyou174014
Inyo128737
Mono12114
Del Norte9875
Plumas6536
Modoc4524
Mariposa3957
Trinity3675
Sierra990
Alpine810
Unassigned00
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