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June 10, 2020, 4:09 p.m. EDT

Dow ends 282 points lower, but Nasdaq logs 3rd straight record and first finish at 10,000 as Fed signals zero rates through 2022

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By Mark DeCambre

U.S. stock benchmarks closed mostly lower Wednesday, but large-capitalization companies saw powerful gains, after the Federal Reserve projected no interest-rate increases through 2022 and pledged to use its full array of tools to help the economy and financial markets contend with the COVID-19 pandemic. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.51% finished off 282 points, or 1%, at around 26,990, while the S&P 500 index closed down 0.5% lower at about 3,190. Meanwhile, the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +1.87% closed up 0.7% at around 10,020, while an index of the largest 100 companies in the Nasdaq, the Nasdaq-100 /zigman2/quotes/210598364/realtime NDX +1.91% , ended up 1.3% at 10,094. The finish for the Nasdaq Composite was its first above 10,000 in history. Both Nasdaq gauges closed at record heights. Those technology-laden benchmarks have been propelled higher by gains in Tesla Inc. /zigman2/quotes/203558040/composite TSLA +3.40% , Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +0.78% , Apple Inc. /zigman2/quotes/202934861/composite AAPL +2.39% , as well as chipmaker Nvidia Corp. /zigman2/quotes/200467500/composite NVDA +1.25% , which helped to boost exchange-traded funds, the iShares PHLX Semiconductor ETF /zigman2/quotes/209255350/composite SOXX +2.75% and the VanEck Vectors Semiconductor ETF. Meanwhile, shares of Hertz Global Holdings Inc. /zigman2/quotes/200655672/composite HTZ +0.83% , closed down nearly 40%, after the bankrupt car-rental company revealed that it received a delisting notice from the New York Stock Exchange. The company's shares have been one of the beneficiaries of optimism surrounding reopenings from COVID-19 lockdowns, but its surge higher also has underscored the exuberance in equities despite an economy that is in the throes of a deep recession.

/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,584.06
+410.10 +1.51%
Volume: 405.06M
Sept. 28, 2020 5:06p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,117.53
+203.96 +1.87%
Volume: 3.22M
Sept. 28, 2020 5:16p
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/zigman2/quotes/210598364/realtime
US : U.S.: Nasdaq
11,364.45
+213.32 +1.91%
Volume: 667,047
Sept. 28, 2020 5:16p
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 421.20
+13.86 +3.40%
Volume: 49.72M
Sept. 28, 2020 4:00p
P/E Ratio
1,096
Dividend Yield
N/A
Market Cap
$379.56 billion
Rev. per Employee
$439,627
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/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 209.44
+1.62 +0.78%
Volume: 32.00M
Sept. 28, 2020 4:00p
P/E Ratio
36.36
Dividend Yield
1.07%
Market Cap
$1572.71 billion
Rev. per Employee
$902,473
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 114.96
+2.68 +2.39%
Volume: 137.67M
Sept. 28, 2020 4:00p
P/E Ratio
34.95
Dividend Yield
0.71%
Market Cap
$1946.64 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/200467500/composite
US : U.S.: Nasdaq
$ 521.40
+6.45 +1.25%
Volume: 14.35M
Sept. 28, 2020 4:00p
P/E Ratio
95.63
Dividend Yield
0.12%
Market Cap
$318.09 billion
Rev. per Employee
$882,428
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/zigman2/quotes/209255350/composite
US : U.S.: Nasdaq
$ 303.38
+8.13 +2.75%
Volume: 612,039
Sept. 28, 2020 4:00p
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/zigman2/quotes/200655672/composite
US : U.S.: NYSE
$ 1.22
+0.01 +0.83%
Volume: 5.08M
Sept. 28, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$189.01 million
Rev. per Employee
$250,105
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