Stock Market News: SpaceX Success Launches Tesla, Virgin Galactic Stocks
The stock market moved higher on Monday morning, brushing off protests across much of the U.S. as well as ongoing coronavirus-related concerns. Despite warnings from major investment banks that the financial markets aren't in touch with the reality of the economic challenges facing the world, investors seem to feel there's little choice but to put available cash to work in stocks. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 65 points to 25,448. The S&P 500 (SNPINDEX: ^GSPC) had risen six points to 3,051, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had picked up 41 points to reach 9,531.
Over the weekend, the first launch of a U.S.-based space mission in nearly a decade took place. A partnership between the National Aeronautics and Space Administration and privately held launch company SpaceX was responsible for sending two astronauts to the International Space Station. The news lifted shares of two other companies, Tesla (NASDAQ: TSLA) and Virgin Galactic Holdings (NYSE: SPCE), for related but somewhat different reasons.
Image source: Virgin Galactic.
Source Fool.com
