Dow Jones News: IBM's New CEO Starts Today; Walmart Limits Customers in Stores
The Dow Jones Industrial Average (DJINDICES: ^DJI) rose sharply Monday morning, up 4.6% by 10:30 a.m. EDT. While the coronavirus pandemic continues to spread across the U.S., greatly reducing economic activity as people hunker down at home, a glimmer of hope in New York State may be giving investors reason to be optimistic. The state reported a lower death count on Sunday than it did on Saturday, the first indication that social distancing is working.
Riding the market higher were IBM (NYSE: IBM) and Walmart (NYSE: WMT). IBM stock rose after Arvind Krishna officially took over as CEO, and Walmart was up despite the retailer limiting the number of customers in its stores.
In late January, tech giant IBM announced that CEO Virginia Rometty would step down after leading the company through a difficult transformation. Under Rometty's leadership, IBM shed legacy businesses, invested in growth areas like artificial intelligence and cloud computing, and closed the massive $34 billion acquisition of Red Hat.
Source Fool.com
