Stock Market News: Coronavirus Lockdowns Help Roku; Margin Smacks Invesco Mortgage
The stock market got a huge boost Tuesday morning, with major market benchmarks seeing sharp moves to the upside. The gains came despite the fact that lawmakers still haven't agreed on a final stimulus package to try to counteract the impacts of the coronavirus pandemic on the U.S. economy. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 1,384 points to 19,976. The S&P 500 (SNPINDEX: ^GSPC) rose 146 points to 2,384, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 387 points to 7,248.
COVID-19 has dramatically changed life for millions of Americans, and the trend toward staying at home has undoubtedly given Roku (NASDAQ: ROKU) a boost. However, the financial implications have put pressure on some financial companies, and Invesco Mortgage Capital (NYSE: IVR) fell prey to dysfunction in the mortgage-backed securities markets that exposed the risk of its investing strategy.
Shares of Roku were up 9%, adding to its gains over the past week. The streaming television specialist has a business plan that's tailor-made for those who need to stay at home, and investors seem more optimistic that rising viewership will help Roku make more money.
Source Fool.com
