Zoom, NVIDIA Lift Nasdaq as Coronavirus Fears Return

The stock market proved its resilience on Monday, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) and other market benchmarks bounced back from early losses. After having dismissed fears in recent weeks of a second wave of COVID-19 cases, market participants seemed to acknowledge that possibility more seriously. Yet news of further measures from the Federal Reserve helped calm nerves. The composite index finished higher by more than 1.3%, and the Nasdaq 100 index posted a gain of over 1% as well.

Investors have proved to be fairly predictable in their behavior. When coronavirus concerns arise, they've turned to the stocks that stand to gain the most from trends toward working from home and internet connectivity. That sent Zoom Video Communications (NASDAQ: ZM) and NVIDIA (NASDAQ: NVDA) higher today, and it could lead to further gains as well.

Shares of Zoom Video Communications rose by 9%. The videoconferencing company has been a go-to investment for those who believe that the COVID-19 crisis is far from over and will continue to affect the business world.

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Source Fool.com