What Happened in the Stock Market Today? Closing Bell Newsletter
Kiplinger's Closing Bell


The Closing Bell e-mail newsletter is sent daily to your inbox after the market closes. Sign up below to get tomorrow morning’s headlines and analyses of key investing and financial news today.
Sign up now. It's free.

Dow Pops 1,627 Points on Hope Against Coronavirus

Dow Pops 1,627 Points on Hope Against Coronavirus

Bulls sprinted out of the gate on Monday amid fresh data showing progress against the coronavirus outbreak, even as Wall Street's pros remained split as to where they think stocks will head next. JPMorgan's global equity strategy chief, as well as CEO Jamie Dimon, separately warned of a severe recession on Monday -- a day after U.S. Surgeon General Jerome Adams said the virus' toll this week could result in "the hardest moment for many Americans in their entire lives." However, declines in fatalities in New York City, Italy and Spain set off a spurt of buying, encouraged by comments from Morgan Stanley's chief U.S. equity strategist, who writes that "the worst is behind us." The Dow shot 7.7% higher to 22,679, led by massive gains in Boeing (BA, +19.5%) and American Express (AXP, +14.0%).

Like many recent rallies, Monday's run wasn't evenly spread across the board. For instance, Southwest Airlines (LUV, +0.5%) and Delta Air Lines (DAL, -0.7%) were muted as investors reacted to Warren Buffett paring his position in each. The Berkshire portfolio holds all four major U.S. airlines, and 10%-plus stakes in each required Buffett to disclose the sudden moves in these stocks, though he was mum on his reasoning. On the other hand, bullishness about an eventual return to normalcy and growth had investors bidding up consumer stocks, as well as technology companies. Indeed, some areas of the tech sector have motored right through this bear market, as society's shifts to battle the pandemic have played to their strengths. And even more gains might be in the offing. Here, we examine 11 technology companies that appear poised to benefit from several trends emerging from the coronavirus pandemic ... including several that could persist long after the threat subsides.

Sign up for the Closing Bell e-mail newsletter now. It's free.