June 29, 2022

The Dow closed at 35,000 points , the stock market hit a record high

The Dow Jones Index rose 0.7%, or 237 points, to 35,061, while the S&P 500 Index rose 1.01% to 4,411 and the Nasdaq Index rose 1.04% to 14,836. Most of the 4,444 earnings came from tech giants like Facebook and Google, which were up 5.3% and 3.6% respectively on Friday, and Apple and Microsoft were up about an hour.

Bank, energy, automotive, tourism and biotechnology stocks lag behind the market.
Some of the stocks that have been affected include General Motors, which fell 1.3% after recalling the Chevrolet Bolt electric car, and Honeywell International also fell 1.5%.

“We should have more room for growth, but risks like inflation are imminent and geopolitical or other threats can always push the stock market back,” said chief investment officer Chris Zaccarelli (Chris Zaccarelli ) Independent Alliance of Advisors.

Main background
The stock market plummeted on Monday, due to concerns that the spread of the Delta variant of the coronavirus may stifle the economic recovery. Despite the strong market closing this week, the economic recovery is still an unresolved issue. More and more cities and states have announced mandatory or recommended masks, which in the past caused public anxiety and stocks plummeted. Zaccarelli pointed out that the gains are caused by stimulus measures, and if the stimulus measures are removed, the market may fall.

What to watch out for
After the unsuccessful vote in the Senate on Wednesday, discussions will continue next week to reach a compromise on the $1.2 trillion bipartisan infrastructure bill. The bill will provide funds to upgrade the country’s physical infrastructure. The 22 senators from the two parties who drafted the bill said they “have made significant progress” and are “close to reaching a final agreement.”

Further reading
Stock market sell-off: Dow Jones Index fell 700 points, its worst drop since October as Delta Variant fears intensified (Forbes)
The latest city of St. Louis adjustment Covid Guide – See the full list (Forbes)
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