Dow jumps over 400 points, oil nears $76 level

Mainstay Capital Management CEO David Kudla says investors should reevaluate their portfolio due to a ‘wall of worry’ over market decline.

U.S. stocks staged an afternoon rebound on Friday as investors usher in a new month amid ongoing uncertainty on Capitol Hill.

The Dow Jones Industrial Average rose over 400 points or 1.4%  while the S&P 500 index and Nasdaq Composite jumped 1.4% and 0.5%, respectively

Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 34314.75 +470.83 +1.39%SP500 S&P 500 4353.49 +45.95 +1.07%I:COMP NASDAQ COMPOSITE INDEX 14525.24335 +76.66 +0.53%

Oil also moved higher nearing the $76 per barrel level. 

Ticker Security Last Change Change % USO UNITED STATES OIL FUND L.P. 53.26 +0.69 +1.31%

Dow member Merck remained higher after the company said it will seek emergency approval for its COVID-19 antiviral pill. Atea Pharmaceuticals, a smaller biotech firm that also has a similar pill, rose in tandem. 

Ticker Security…

Read more…