Dow Jumps 300 Points As Stocks Kick Off Worst Six Months Of The Year

Dow Jumps 300 Points As Stocks Kick Off Worst Six Months Of The Year

Share to Linkedin Kicking off a historically lackluster period for stocks, the market is once again soaring back toward record highs Monday as experts keep a close eye on the Federal Reserve, which helped intensify a Friday selloff due to concerns it could finally ease up on its pandemic-era economic support. A trader grins on the floor of the New York Stock Exchange. As of 9:50 a. m. Monday, the Dow Jones Industrial Average was soaring 320 points, or 0. 9%, while the S&P 500 jumped 0. 6% and the tech-heavy Nasdaq 0. 2%. Confirming recent reports, Verizon announced Monday morning it will sell its internet assets—including Yahoo and AOL—to private equity firm Apollo Global Management for $5 billion (it paid nearly a combined $9 billion for both in 2015 and 2017); shares of Apollo jumped 1. 3% Monday morning, Verizon 0. 4%. Heading up gains in the Dow, shares of American Express, Goldman Sachs and Honeywell are climbing 1. 1%, 0. 8% and 0. 8%, respectively, recouping losses from a Friday selloff that helped push the index down 0. 5% last week. On the earnings front, makeup giant Estée Lauder reported lower-than-expected quarterly sales of $3. 9 billion before