Obama Speaks, AMC Struggles & The New York Times Climbs - Retiring? What Are IRA's - Daily Financial News Summary for Wednesday, June 3, 2020

Obama Speaks, AMC Struggles & The New York Times Climbs – Daily Financial News Summary for Wednesday, June 3, 2020 Stocks rose again on Wednesday, as cautious hope for the reopening of the economy continued. The S&P 500 and the NASDAQ both saw their fourth day of increases in a row, at 1.4% and 0.8%, respectively. The Dow Jones finished the day at 2.1% higher. Health officials have been worried that the continuing protests, which continued today, in the United States might result in a surge of new infections from Covid19. However, the confirmed number of cases has stayed consistent from Tuesday to Wednesday, rising 1.2% between the two days. Oil prices reached a 12-week high today. West Texas Intermediate rose by 1.3%, to settle at $37.29 per barrel. A report released from Automatic Data Processing showcased that the number of lost jobs fell significantly from April to May. In April, 20.2 million jobs were lost. In May, only 2.76 million jobs were lost. Economists had previously estimated that the loss of jobs in May would be closer to 8.5 million. The Labor Department’s employment report is set to be released on Friday, which will provide a more accurate count. Zoom continued to rise in value on Wednesday, as the company released its sales and earnings data earlier this week. Zoom reported a net income of $27 million this quarter, as compared to $200,000 this time last year. This has resulted in their sales growing by 169% as more businesses use Zoom in lieu of face-to-face meetings. Zoom’s share price rose by 7.58%. AMC EntertainmentHoldings Inc. is still seeing losses, as movie theaters remain closed to the public. A representative from AMC spoke about expecting a loss for the first quarter of 2020, as its share price fell by 2.5%. READ MORE: https://callputstrike.com/2020/06/03/obama-speaks-amc-struggles-the-new-york-times-climbs-daily-financial-news-summary-for-wednesday-june-3-2020/ Investing & Retirement: Different Types of IRAs READ MORE: https://callputstrike.com/2020/05/05/investing-retirement-different-types-of-iras/ Business Education, Investing, Market Insider, News, Stock Market, Trader Talk