June 13 (UPI) — U.S. stocks closed higher on Friday U.S. time as investors tried to recover big losses from the previous session,media reported. The Dow rose 477.37 points, or 1.90 percent, to 25,605.54. Earlier in the day, the index was up more than 800 points. The Standard and Poor’s 500 index rose 1.31 percent to 3,041.31 and the Nasdaq composite index rose 1.01 percent to 9,588.81.
This week, the Dow Jones and the Standard and Poor’s 500 index are down 5.5 percent and 4.7 percent, respectively, and the Nasdaq is down 2.3 percent. All three major U.S. stocks recorded their biggest weekly declines since March 20.
Tech-leading stocks were mixed in Friday trading, with Apple up 0.86 per cent at $338.80, Google parent Alphabet up 0.67 per cent at $1,413.18, Amazon down 0.51 per cent at $2,545.02, Microsoft at $187.74, up 0.79 per cent and Facebook at $228.58, up 1.85 per cent. Oracle closed up 1.07 per cent at $51.86, IBM closed up 3.30 per cent at $121.91, Netflix fell 1.76 per cent to $418.07, Tesla closed down 3.86 per cent at $935.28, Twitter gained 1.12 per cent, Uber gained 3.67 per cent and Lyft rose 4.45 per cent.
Most of the leading chips in The U.S. rose, with Intel closing down 0.62 per cent at $59.33, NVida up 1.55 per cent at $357.30, Broadcom up 2.21 per cent at $300.25 and Texas Instruments closing at 1 $23.97, down 0.51 per cent, Qualcomm closed 1.45 per cent higher at $85.24, AMD closed 1.27 per cent higher at $53.50, Micron Technologies gained 0.35 per cent and Applied Materials Rose 2.06 per cent.
U.S.-listed Chinese stocks rose, with Alibaba closing up 1.12 per cent at $217.64, JD.com up 1.31 per cent at $57.99 and Baidu up 3.9 per cent at $116.27 7% ;P Duo Duo, up 2.24 per cent at $73.11, up 5.81 per cent to $35.87 and Good Future up 1.06 per cent at $63.71 Aichi, down 0.22% at $17.80, Oritha, up 8.96% at $43.04, Weibo, up 2.24% at $32.47, Sina, up 2.53% and Sohu, up 4.5%. Sogou fell 0.82 percent, Ctrip was up 2.28 percent, ahead of the market down 0.65 percent, Auto Home was down 0.60 percent, 58 were down 0.16 percent, NIO was up 3.21 percent and Jinshan Cloud was down 2.39 percent.
Luckin Coffee closed up 15.77 percent at $3.89, ending a four-day losing streak.
Yesterday, the Dow, The Benchmark and Nasdaon all recorded their biggest one-day declines since mid-March this year, with declines of more than 5%.
U.S. stocks fell this week as data compiled by Johns Hopkins University showed an increase in the number of new confirmed cases of new coronal pneumonia as states such as Arizona, South Carolina and Texas continued to press ahead with the restart. The number of cases in Arizona has nearly doubled since Memorial Day.
Still, Treasury Secretary Steven Mnuchin told the media that the U.S. cannot shut down the economy again. More than 2 million cases of new pneumonia have been confirmed in the United States and more than 100,000 deaths have been reported.
U.S. stocks have been higher this week as investors cheer up the prospects for economic recovery as U.S. states and countries around the world ease segregation measures.
“Our stock market has risen more than 30 per cent, but there’s not a real sell-off, and I don’t think it’s the worst thing in the world,” said TD Ameritrade’s chief market strategist. As more states reopen, the question becomes: Will their economic growth satisfy Wall Street? What you see now is that it’s hard to do. (Liu Chun)