Dow Jones gains more than 500 points on Tuesday

The move comes as the U.S. economy continues moving toward reopening

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Outside the New York Stock Exchange on May 26, 2020
Outside the New York Stock Exchange on May 26, 2020
(Spencer Platt/Getty Images)
Last Updated:
May 26, 2020 - 5:53pm

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    The Dow Jones Industrial Average on Tuesday climbed 529.95 points while the S&P 500 and Nasdaq also rose for the day –with all three building on gains of more than 3 percent last week. 

    The gains come as much of the country works toward emerging from the significant economic slowdown triggered by the coronavirus crisis and related lockdowns. While much of the country has been hit hard during the pandemic, the economy is starting to revive as states relax restrictions.

    Vaccine news may also be boosting the markets. Last week a company called Moderna announced positive news about a potential coronavirus vaccine and on Monday this week Novavax said that it has begun phase one of a clinical trial for a possible vaccine.

    Some people were permitted back onto the floor of the New York Stock Exchange Tuesday after an extended COVID-19 related floor shut down.

    President Trump earlier in the day tweeted about the markets. He said that states should reopen and predicted that next year will prove to be a banner year.

    "States should open up ASAP. The Transition to Greatness has started, ahead of schedule," Trump tweeted. "There will be ups and downs, but next year will be one of the best ever!"

     

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