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Dow extends growth streak with Tuesday gains

An American Flag hangs outside of the New York Stock Exchange on Wall Street in New York City on May 28. Photo by John Angelillo/UPI
An American Flag hangs outside of the New York Stock Exchange on Wall Street in New York City on May 28. Photo by John Angelillo/UPI | License Photo

June 2 (UPI) -- U.S. stocks extended their growth streak to begin the month of June, closing with gains on Tuesday.

The Dow Jones Industrial Average climbed 267.63 points, or 1.05 percent, a day after closing with a gain of almost 100 points.

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The blue chip index is on a hot streak, growing by more than 6 percent over the past two weeks, even with the ongoing coronavirus pandemic and waves of unrest nationally over the police killing of George Floyd in Minnesota.

The S&P 500 grew 0.82 percent and the Nasdaq Composite gained 0.59 percent as the retail, healthcare and technical services sectors influenced the markets with early gains.

Gap stock soared 7.68 percent and Southwest Airlines stock grew 2.56 percent as stocks that would benefit from cities and states lifting coronavirus restrictions benefited as more states advanced plans to open businesses and other activities.

Bank stocks also rose Tuesday, with Citigroup gaining 2.81 percent, Wells Fargo increasing 1.14 percent and Bank of America growing 0.89 percent.

Tech stocks rebounded from losses earlier in the day to end with slight gains that contributed to the market rise. Google's parent company, Alphabet, grew 0.52 percent, Apple stock rose 0.46 percent, Facebook stock increased 0.35 percent and Netflix stock gained 0.33 percent.

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