Buoyed by Congress about to pass a $2 Trillion stimulus/bailout bill?
Donald Trump signaling that he will lift the federal virus restrictions. soon…
The market made its biggest gain in modern times….
We’ll see if this sticks…
US stocks rose on Tuesday, rebounding from a more thanthree-year low on Monday, as investors anxiously awaited a sweeping coronavirus economic relief package that’s in its final stages of approval.
Early gains extended mid-morning on Tuesday when House Speaker Nancy Pelosi said on a call with CNBC that there was“real optimism” that a deal could be reached in the next few hours.
Later, Senate Majority Leader Chuck Schumer said that talks were on the 2-yard-line. Major indexes surged to session highs in the final 30 minutes of trading.
Here’s where the major US indexes stood at the market close on Tuesday:
- S&P 500: 2,447.33, up 9.4%
- Dow Jones industrial average: 20,704.91, up 11.4% (2,113 points)
- Nasdaq Composite: 7,417.86, up 8.1%
“It’s pretty likely that we do see some kind of deal coming this week” as policy makers understand how urgent it is, Seema Shah, chief strategist at Principal Global Investors, told Business Insider in an interview. Until there is a clear announcement from the government, markets are likely to struggle to hold onto any gains, Shah said. …
image…Reuters / John Gress