Stocks continue winning streak amid protests

Stocks on Wednesday continued their June winning streak, rising even as widespread protests and unrest continued around the country over racial justice.

The Dow Jones Industrial Average opened up 232 points, or 0.9 percent, and the S&P 500 was up 21 points, or 0.7 percent.

Stocks have rebounded from pandemic-related lows in March, regaining nearly two-thirds of their lost value as investors look ahead to the economic recovery.

On Wednesday, payroll company ADP estimated that payrolls declined by 2.76 million in May, significantly less than the 8.75 million economists had expected. Manufacturing was particularly hard hit, according to the report.

The official jobs report from the Labor Department is due out Friday, and some economists expect it to show May unemployment reaching 20 percent, the highest level since the Great Depression.

Tags Coronavirus COVID-19 George Floyd protests stock markets Unemployment Wall Street
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