Dow posts fourth consecutive day of gains

Steady gains, no recent heavy losses suggests economy nation is moving towards reopening from coronavirus lockdowns

Published: April 27, 2020 4:07pm

Updated: April 27, 2020 5:43pm

The Dow Jones Industrial Average on Monday posted a 358.51 point increase, its fourth consecutive day of gains, as the economy appears to move toward reopening after vast swathes of the business sector suffered significant setbacks amid the coronavirus pandemic.

The S&P 500 and the Nasdaq on Monday rose 1.5 percent and 1.1 percent respectively.

Some states are beginning to remove restrictions and permit some shuttered businesses to reopen again.

In New York, the hardest hit state during the pandemic, Gov. Cuomo on Sunday reported that there had been 367 COVID-19 deaths on April 25, the lowest number since March. And on Monday the daily death toll declined even further to 337 deaths on April 26.

But even as it appears the nation may begin reemerging from the COVID-19-related lockdown, the fallout from the crisis has been massive as more than 26 million people have filed unemployment claims during a five-week period.

Last week, Congress and President Trump have approved more funding to replenish the depleted Paycheck Protection Program to buoy businesses impacted during the pandemic.