Stocks up 3.4% on Wall Street as hopes build for virus peak
FILE - This photo provided by the New York Stock Exchange shows the unoccupied NYSE trading floor, closed temporarily for the first time in 228 years as a result of coronavirus concerns, Tuesday March 24, 2020. Global stocks and U.S. futures declined Thursday after the U.S. Senate approved a proposed $2.2 trillion virus aid package following a delay over its details and sent the measure to the House of Representatives. (Kearney Ferguson/NYSE via AP, File)
The Associated Press
Posted at 4:12 PM, Apr 08, 2020
and last updated2020-04-08 16:12:25-04
Stocks shot 3.4% higher on Wall Street Wednesday as investors chose to focus on the optimistic side of data about the coronavirus outbreak’s trajectory.
It’s the latest about-face in this brutally volatile stretch for the U.S. stock market, which has flip-flopped between gains and losses for six straight days.
The up moves have recently been bigger than the downward swings, though, amid signs that deaths and infections may be nearing a peak or plateau in some of the world’s hardest-hit areas. The S&P 500 has jumped nearly 23% since it hit a low two and a half weeks ago.
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