Leading Stock Apple Rises, New York Stock Market Also Strengthens (Comprehensive)

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market showed strength centered on technology stocks despite the number of new COVID-19 cases reaching 60,000 and the cumulative number surpassing 3 million. Apple's strength led the market.

On the 8th (local time), the Dow Jones Industrial Average rose 177.10 points (0.68%) to close at 26,667.28, the S&P 500 index increased 24.62 points (0.78%) to 3,169.94, and the Nasdaq surged 148.61 points (1.44%) to close at 14,920.50.

The COVID-19 situation, which is putting pressure on the U.S. economy, shows no signs of easing. According to data compiled by Johns Hopkins University, the number of new confirmed cases exceeded 60,000 for the first time the day before. U.S. Vice President Mike Pence publicly mentioned that the total number of COVID-19 cases has surpassed 3 million.

On this day, major technology companies such as Apple again showed strong performance. Apple, Amazon, and Netflix shares all rose around 2%, setting new all-time highs.

Apple closed up 2.3% at $381.37, boosted by Deutsche Bank raising its target price, despite closing about half of its Apple Stores in the U.S. due to the resurgence of COVID-19.

August delivery West Texas Intermediate (WTI) crude oil closed at $40.90, up 0.7% ($0.28) from the previous trading day. August delivery gold closed at $1,820.60 per ounce, up 0.6% ($10.70) from the previous day.