Stocks Tepid Following Tuesday's Rally

Chris Gaetano
Published Date:
Jun 17, 2020
Stocks have been up and down throughout the day and were trending slightly down.

As of 3:37 p.m., the Dow Jones Industrial Average was down by 127 points, the S&P 500 was down by 7.5 points and the Nasdaq was up by 20 points.

Bloomberg said that, on the one hand, traders are rattled by rising coronavirus cases in areas where the economy has at least partially reopened while, on the other hand, they were also encouraged by recent words from Fed Chair Jay Powell urging Congress not to pull back the economic support it had put in place during the pandemic.

Stocks have been particularly volatile over the past few weeks. The CBOE Volatility Index is up only 0.56 percent today, but has generally spiked considerably through most of June. While not as high as at its six-month peak, which was March 16, it nonetheless has remained elevated compared to the pre-pandemic days. 

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