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The Dow Jones Industrial Average gained 1.21% today on easing trade war fears, to finish above 25,000 for the first time in two months. The Nasdaq and S&P 500 also finished higher.
Bottom line: Regaining 25k is a psychological victory for the markets, and a rhetorical one for free traders in the White House who reportedly have used Dow gains/losses as a way to push their agenda with President Trump.
Tony Evers. Photo: Nuccio DiNuzzo/Getty Images
Wisconsin's Supreme Court on Monday blocked an executive order by Gov. Tony Evers (D) that attempted to delay in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.
Driving the news: Judges ruled 4-2 along ideological lines that Evers does not have the power as governor to unilaterally postpone the election, despite the fact that the state has a stay-at-home order in place due to the coronavirus pandemic.
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People passing by the New York Stock Exchange amid the coronavirus pandemic. Photo: John Nacion/NurPhoto via Getty Images
The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
Why it matters: The huge market surge comes amid rare optimistic signs that the spread of the coronavirus may be slowing in parts of the country, including New York. But government officials say this will be a difficult week, while economists — including former Fed chair Janet Yellen today — warn that the pandemic could have a catastrophic impact on the global economy.