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Stocks Rally on Wall Street With the Nasdaq Touching the 5,000 Mark

July 27, 2023
in Trade Tube
Reading Time: 1 min read
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Stocks were in rally rode at Monday’s midday trading with the Nasdaq touching 5,000 for the first time since March 2000. The Dow is adding more than 100 points. Weak economic data is bolstering stocks as investors hope the Fed will be slower to raise rates this year. Manufacturing in this country came in at its slowest pace in more than year. The ISM index came in at 53.2 in February. Shares of Lumber Liquidators (LL) are back to trading after being halted on a ’60 Minutes’ report claiming the company sold flooring that contains cancer-causing chemicals. Lumber Liquidators says it complies with regulations. Shares of Aruba Networks (ARUN) is down about 1.5% after its deal with Hewlett-Packard (HPQ) valued its price less than where it was trading. Hewlett-Packard will buy Aruba Networks in an all cash deal for $2.7 billion.

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