Stocks gain after Trump vows to quell rioting
New York City police attacked during violent night of protests
Multiple NYPD officers were attacked during a night of protests and riots. Fox News’ Aishah Hasnie with more.
U.S. equity markets pushed higher Tuesday after President Trump threatened to deploy the military to quell violence and looting in cities across America after the death of a black man in police custody in Minneapolis.
Continue Reading Below
The Dow Jones Industrial Average gained 128 points, or 0.5 percent, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite rose 0.33 percent and 0.13 percent, respectively.
Business owners across Midtown Manhattan were left cleaning up storefronts Tuesday morning after ransacking that began before the 11 p.m. ET curfew and continued throughout the night. Meanwhile, police officers were shot in Las Vegas and St. Louis.
RIOTS PUT BRAKES ON US ECONOMY'S CORONAVIRUS RECOVERY
"I have recommended every governor deploy the National Guard in sufficient numbers to dominate the streets," Trump said, adding that he will dispatch “thousands and thousands of heavily armed soldiers and military personnel" to stop the violence, if necessary.
Looking at stocks, gun-related companies surged amid the civil unrest.
Elsewhere, Southwest Airlines offered extended buyout packages and paid leave to employees as it fights to fend off a 30 percent drop in flight capacity. Other heavily beaten-down airlines and cruise operators also gained.
Meanwhile, Moneygram was approached by rival Western Union about a deal, according to a Bloomberg report.
On the earnings front, Dick’s Sporting Goods swung to a first-quarter loss as stay-at-home orders aimed at slowing the spread of COVID-19 shuttered stores during the final weeks of March.
West Texas Intermediate crude oil jumped 2.68 percent to $36.39 a barrel, while gold was little changed at $1,749 an ounce.
U.S. Treasurys slid, forcing the yield on the 10-year note up by 1.5 basis points to 0.677 percent.
Germany’s DAX paced the gain in Europe, soaring 3.81 percent, as traders returned from a holiday weekend while France’s CAC and Britain’s FTSE climbed 2.02 percent and 0.97 percent, respectively.
CLICK HERE TO READ MORE ON FOX BUSINESS
In Asia, Japan’s Nikkei added 1.19 percent, Hong Kong’s Hang Seng advanced 1.11 percent and China’s Shanghai Composite edged up 0.2 percent.
Source: Read Full Article