Dow stages 424-point U-turn to turn positive midday Monday as Goldman, JPMorgan and Nike shares surge

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The Dow Jones Industrial Average midday Monday shook off an early bout of selling in Christmas week trade to turn positive, with investors processing reports off a novel strain of coronavirus running rampant in the U.K. against the apparent progress of a coronavirus relief package set to be cemented in the U.S. The Dow Jones Industrial Average [: DJIA] was off by as many as 424 points at its Monday nadir, but was now up 20 points, or less than 0.1%, at 30,187, at last check after touching an intraday low at 29,755,53, FactSet data show. Gains for the blue-chip benchmark were supported by rise in shares of Goldman Sachs and JPMorgan Chase & Co. and Nike Inc. . The S&P 500 index was trading 0.6% lower at 3,688 but off its low at 3,636.48, while the Nasdaq Composite Index was off 0.5% at 12,697, but well off its Monday low at 12,525.22.
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