Dow posts best quarter since 1987 as stocks rebound from coronavirus lows

US stocks post the best quarterly performance in decades.

For the quarter, the Dow posted its best performance in 33 years, gaining 17 percent while the S&P 500 rose 20 percent and the Nasdaq surged 30 percent.

On the economic front, June consumer confidence printed at 98.1, ahead of the 91.8 that analysts surveyed by Refinitiv were expecting.

Meanwhile, the number of daily new coronavirus cases in the U.S. continued to pull back from the peak reached last week, totaling 36,390 on Monday. Deaths due to the outbreak ticked up to 338 but remained near their lowest level since March 25.

Overnight, China passed national security legislation for Hong Kong, effectively ending the “One Party, Two Systems” governing principle that had been in place since the 1997 handover by Britain. The U.S. responded by revoking trade benefits that had been afforded to Hong Kong under the dual system.

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Source: Dow posts best quarter since 1987 as stocks rebound from coronavirus lows

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