Economy

Wall Street rallies as Hurricane Irma fizzles

By Ovunc Kutlu

NEW YORK

The three major indexes on Wall Street rallied Monday as Hurricane Irma turned out to be less deadly than anticipated.

The stock market braced for the hurricane that made landfall Sunday in south Florida but investors’ fears subdued after Irma weakened and turned into a tropical storm by Monday.

The Dow added 259 points to close at 22,057, marking its biggest daily gain since March 1.

The S&P 500 rose 26 points to finish at 2,488, a new record.

The Nasdaq gained 72 points to end the first trading day of the week at 6,432 points.

Leaving Irma behind, investors shifted their focus to tech companies.

Tesla and GoPro saw their shares gain 5.9 percent and 6.4 percent, respectively.

A day before launching its new iPhone model, Apple’s stock price increased 1.8 percent. 


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