Dow spikes more than 1,600 points as markets rebound Monday U.S. financial markets spiked Monday, likely on hopes that the COVID-19 outbreak was nearing its peak in certain parts of the U.S. The Dow Jones Industrial Average closed up by 1,627 points or 7.7%. The S&P 500 spiked 7% and the Nasdaq was up 7.3%. In New York — the state hit hardest by the pandemic — Gov. Andrew Cuomo said Monday that the rate of death has been “effectively flat for two days.” Cuomo said the total number of hospitalizations, ICU admissions and daily intubations are down, which “suggest a possible flattening of the curve.” While New York may have reached the apex of coronavirus infections, what happens next “still depends on what we do,” Cuomo added.
One of the best performers for the Dow Monday was Boeing, which saw double-digit gains. Monday’s rally comes after weeks of steep losses as the coronavirus-induced sell-off continues on Wall Street. Fiat-Chrysler Automobiles plans to restart U.S. manufacturing operations on May 4 The automaker announced Monday it intends to “progressively restart its U.S. and Canadian manufacturing facilities beginning May 4.”
“During this current production pause, we are working with government officials and our unions to implement new procedures to certify the daily wellness of our workforce while also redesigning work stations to maintain proper social distancing and expanding the already extensive cleaning protocols at all locations,” FCA said in a statement. It emphasized that it will only restart operations with “safe, secure and sanitized workplaces to protect all of our employees.” FCA is one of the first automakers to announce plans to re-open manufacturing facilities in the U.S. that have been shuttered as a result of the pandemic. Nick Note: The bottom is in. And you will see the biggest fastest rally EVER. And you will regret all the days of your life if you do not get your share of the millions to be made.