Wall Street jumps on hopes of US$2 trillion stimulus

Wall Street charged ahead of the stimulus hopes, but how long can the turnaround be in the wake of the Covid-19 fallout?

NEW YORK: Wall Street jumped at the open on Tuesday as signs that Washington was nearing a deal on a $2 trillion economic rescue package gave a shot of optimism to markets reeling under the biggest selloff since the global financial crisis.

The Dow Jones Industrial Average rose 1,130.26 points, or 6.08%, at the open to 19,722.19. The S&P 500 opened higher by 107.04 points, or 4.78%, at 2,344.44. The Nasdaq Composite gained 335.47 points, or 4.89%, to 7,196.15 at the opening bell. - Reuters