Stocks surged again on Wednesday, taking the Dow past 25,000.
 | WED, MAY 27, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | JPM | 101.37 | +5.55 | +5.79% | | MSFT | 181.81 | +0.24 | +0.13% | | BA | 149.52 | +4.79 | +3.31% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 7.29 | +0.49 | +7.21% | | BAC | 25.98 | +1.70 | +7.00% | | F | 6.03 | +0.19 | +3.25% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 52.74 | -0.45 | -0.85% | | AAL | 11.98 | +0.84 | +7.54% | | UAL | 30.69 | +1.15 | +3.89% | |
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In an economy like this, where everyone knows the lagging indicators will be horrible, it's good to peek at some anecdotal data. Open Table reports its bookings for seated diners on May 26 were down 40% compared with the same day last year, and that's great news, because they were down 100% during the ongoing coronavirus pandemic. The data gives investors a glimpse at how things may go as the economy continues to reopen, writes CNBC's Tom Franck. If diners are quick to return to their favorite eateries, the economy may be on a better trajectory than we think.  The question is whether restaurant employees are ready to go back to work. In a report released Wednesday, the Federal Reserve said business leaders have "cited challenges in bringing employees back to work, including workers' health concerns, limited access to childcare, and generous unemployment insurance benefits." Stocks continue to climb higher despite anticipated downbeat assessments of the economy based on earlier data and research. The Dow Jones Industrial Average closed above 25,000 on Wednesday for the first time since March. "The market has been making a V-pattern upward and there's been a tremendous amount of skepticism around that," said Michael Darda, chief market strategist and chief economist at MKM Partners, "but we are just starting now to see some evidence in the data turning." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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