Cloud computing company Rackspace begins trading at the Nasdaq following its initial public offering, Wednesday. Wall Street’s big rally keeps rolling, and the S&P 500 gained for a fourth straight day Wednesday to sit just 1.7 percent below its record. The S&P 500 climbed by 21.26 points, or 0.6 percent, at 3,327.77, echoing gains for stocks across Europe and Asia. If the U.S. market has just a few more days like that, it will erase the last of the historic losses it’s taken since February because of the coronavirus pandemic and the recession it caused. The Dow Jones Industrial Average added 373.05, or 1.4 percent, at 27,201.52, and the Nasdaq composite added 57.23, or 0.5 percent, to set another record at 10,998.40.-AP

Source: The Standard August 06, 2020 01:30 UTC