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Dow surges thanks to Boeing and strong home sales

June 29, 2020. Summarized by summa-bot.

A home for sale in Wyandanch, Wednesday, April 22, 2020. bzhome200618

Stocks kicked off a short trading week on Wall Street on a positive note following a sharp drop Friday.

New York (CNN Business)Stocks kicked off a short trading week on Wall Street on a positive note following a sharp drop Friday.

The Dow rose more than 400 points, or 1. 7% in midday trading Monday.

Tech stocks were expected to be under pressure Monday due to a growing boycott of Facebook by advertisers due to a prevalence of hate speech and misinformation on its platforms.

But shares of Facebook (FB), which fell more than 8% Friday and opened lower Monday morning, were up in midday trading even as blue chip companies like Starbucks (SBUX), Diageo (DEO) and Levi Strauss (LEVI) joined Unilever (UL), Verizon (VZ) and other companies that have decided to pull ads from Facebook.

Stocks plummeted Friday due to growing concerns about a second wave of Covid-19 cases in Florida, Texas and other states.

Investors are bracing for more data about how the US economy is holding up in the wake of the coronavirus outbreak when the government reports the June jobs numbers on Thursday.

The jobs numbers are being released Thursday since the stock market is closed Friday in observance of the July 4th holiday.

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