Stocks rally on hopes a coronavirus rescue bill is close
Stocks rebounded aggressively from a three-year low Tuesday as traders hoped U.S. lawmakers were close to an agreement on a stimulus bill to rescue the economy from the damage caused by the coronavirus.
The Dow soared more than 1,800 points, or 9.8%. The S&P 500 gained 8.3%, while the Nasdaq advanced 7.2%. On Monday, the Dow and S&P 500 closed at their lowest levels since late 2016.
Chevron gained more than 20% to lead the Dow higher. Boeing, McDonald’s and Disney also rallied more than 10%. Energy was the best-performing sector in the S&P 500, soaring 12.9%, while industrials jumped 8.5%.
House Speaker Nancy Pelosi told CNBC’s Jim Cramer there is “real optimism” in Congress over a stimulus deal being reached in the next few hours. Senator Chuck Schumer and Treasury Secretary Steven Mnuchin said they hope to have a deal by Tuesday morning. “There are still a few little differences. Neither of us think they are in any way going to get in the way of a final agreement,” Schumer said.
https://www.msn.com/en-us/money/markets/stocks-rally-on-hopes-a-coronavirus-rescue-bill-is-close/ar-BB11DCB1?li=BBnbfcL
What's the old saying? Shit in one hand and wish in the other and see which gets full first.
= new reply since forum marked as read
