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US stocks rise as investors assess economy reopening amid civil unrest

New York, June 3 (IANS) US stocks ended higher, as Wall Street weighed the possibility of normalizing economic activities amid civil unrest.

On Tuesday, the Dow Jones Industrial Average rose 267.63 points, or 1.05 per cent, to 25,742.65. The S&P 500 was up 25.09 points, or 0.82 per cent, to 3,080.82. The Nasdaq Composite Index increased 56.33 points, or 0.59 per cent, to 9,608.37, Xinhua news agency reported.

All the 11 primary S&P 500 sectors rallied, with energy and materials up 2.65 per cent and 1.76 per cent, respectively, outpacing the rest.

Protests and riots have continued in cities across the United States over the death of African American George Floyd.

Investors closely monitored the nationwide unrest as the combination of riots on top of a pandemic could cause lasting economic scars, experts noted.

“The strength of the economic bounce-back is dependent on keeping fear as low as possible. Fear is likely to remain high across the political spectrum while this unrest continues,” said analysts at UBS in a note.

–IANS

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