The stock market is rallying all the way back to pre-coronavirus levels

(Image credit: JOHANNES EISELE/AFP via Getty Images)

published 8 June 2020

After taking a dive during the coronavirus pandemic, the S&P 500 has just erased its losses for 2020.

The S&P 500 on Monday climbed 1.2 percent to 3,232.39, which means it's "now positive for 2020 by 0.05 percent" after having "bounced more than 47 percent off its March low," CNBC reports.

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The Dow also jumped 461 points on Monday after on Friday it surged 829 points, and it's rising toward the level it was at in late February before the coronavirus crash. Additionally, the Nasdaq soared to a record high when it closed on Monday at 9,924, The Washington Post reports. This was all just hours after National Bureau of Economic Research said the U.S. entered a recession in February. After the surge on Friday, the Post noted that Wall Stret is "is in the midst of a stunning three-month rally that is close to putting investors back where they were in January."

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Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.

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