Stocks rose Monday, despite widespread looting and rioting over the weekend.
 | MON, JUN 01, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | PFE | 35.46 | -2.73 | -7.15% | | BA | 151.39 | +5.54 | +3.80% | | MSFT | 182.83 | -0.42 | -0.23% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 6.76 | +0.19 | +2.89% | | PFE | 35.46 | -2.73 | -7.15% | | NCLH | 17.29 | +1.63 | +10.41% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | UAL | 29.46 | +1.42 | +5.06% | | AAL | 11.11 | +0.61 | +5.81% | | AMD | 53.63 | -0.17 | -0.32% | |
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If you woke up thinking the stock market would react to the astonishing nationwide mayhem over the weekend, you may have forgotten that the market does not feel your passions. CNBC's Jeffrey Cox writes about how news of violent protests amid an ongoing pandemic didn't sink stocks on Monday. For one, investors tend to look past headlines hoping that this too shall pass. For another, the biggest traders are not humans, they're computers. "The market always seems heartless, without any emotion, without caring, without empathy. But that's the nature of the market," said Quincy Krosby, chief market strategist at Prudential Financial. "The algorithms almost certainly have no shred of empathy. They're not supposed to."  Stocks were higher for most of the day Monday and ended the session with gains. The S&P 500 continues trading above its 200-day moving average, signaling a potential for more gains ahead. Still, many strategists are cautious, particularly given rising trade tensions with China and the potential for a surge in Covid-19 cases. "The main downside risk facing stocks is a second wave of the disease," said Peter Berezin, chief global strategist at BCA Research, in a note to clients. "If fears of a new outbreak were to escalate, risk assets would suffer." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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