second wave of coronavirus cases could devastate the US economy.
Stocks tied to an economic reopening - including airlines, cruise operators, and retailers - gained Friday after leading declines on Thursday.US stocks closed higher on Friday after a volatile trading session higher Friday. The gains marked a rebound fromThe prior day's slide was driven by fears that a second wave of coronavirus cases could devastate the US economy. It halted a recent equity rally fueled by investor confidence in reopening progress in the US.
Stocks tied to an economic reopening - including Carnival, United Airlines, and retailers such as Gap and Kohl's - rebounded on Friday after leading declines on Thursday. Later in the day, financial and real-estate sectors led the S&P 500 higher.
Source: News Formal (newsformal.com)
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