Dow Jones Jumps Despite Flood of Bad News; Visa Stock Rises on Positive Spending Data; Big Discounts on iPhones in China
Recent news has not been good. Civil unrest has spread to many U.S. cities in the past few days, threatening to slow the economy's recovery from the pandemic. On Monday, the Congressional Budget Office warned that a full economic recovery could take as long as a decade.
The stock market doesn't seem to care. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up another 0.6% by 11:40 a.m. EDT Tuesday, despite the flood of bad news. The market was mixed overall, with the tech-heavy Nasdaq Composite suffering a small loss.
Shares of Visa (NYSE: V) managed to gain on Tuesday after the credit card giant released data that showed a rebound in spending last month. Meanwhile, Apple (NASDAQ: AAPL) stock was down slightly following reports of steep discounts for iPhones in China.
Source Fool.com
