Wall Street shows strong recovery as Dow regains over 500 points | Financial

The Dow Jones index ends at a plus of 1.6% at 34,511 points. The broad S&P 500 is up 1.5% to 4324 points and the technology exchange Nasdaq gains 1.6% to 14,498 points.

Investors in the US quickly shook off concerns about the delta variant. Better than expected results from IBM contributed to this. The tech company recorded its largest revenue increase in three years in the second quarter, thanks to strong demand for cloud services from home and hybrid working. This means that the new strategy that IBM has deployed under CEO Arvind Krishna is bearing fruit. IBM sprints 1.4% ahead.

Nike gets 1.3% more. Factories in Vietnam that make athletic shoes from the sportswear manufacturer are experiencing major coronavirus outbreaks, which could disrupt deliveries from the Asian country. That reported the BBC. About half of all Nike shoes are made in Vietnam. Production is now disrupted due to the outbreaks.

Aviation companies are booming. Delta Air Lines sees the price pick up 5.4%.

Web store and technology group Amazon increases 0.9%. Founder Jeff Bezos has successfully completed a commercial space flight.

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