On Friday, the Dow Jones Industrial Average is steadily recovering. Shares of Boeing and Cisco are the leaders of growth in the index.
- Boeing BA, +7.99%
- Cisco CSCO, +3.16%
The growth of Boeing shares by almost 8% and Cisco by 3% together produce the index of about 1% growth, solely because of the growth of these companies.
After new fears of a renewed pandemic in the US and negative economic forecasts of the head of the Federal reserve system on Friday, traders are slowly recovering their positions.
The head of the IMF said that the economic recovery may take longer than initially expected. On June 24, new forecasts will be published, which are expected to be 3 times worse than the forecasts in April.
However, some experts believe that the entire growth of the market was not accidental. One of them is Thomas Kaine. He made an assumption that perhaps the market was growing in order for investors to have time to lock in profits before a big fall. He shared his comment on Twitter.
Whatever the reasons for the growth are, it is worth to note that on Thursday, traders unexpectedly began to fix their long positions.