MSCI's gauge of stocks across the globe gained 1.36% to within 1 point of 500, after the benchmark was unable to climb past 495 the past three weeks. The pan-European STOXX 600 index rose 0.98% to close just shy of a three-week high, led by the tech, chemicals and energy sectors. On Wall Street, the Dow Jones Industrial Average rose 369.04 points, or 1.52%, to 24,575.9. The S&P 500 gained 48.67 points, or 1.67%, to 2,971.61 and the Nasdaq Composite added 190.67 points, or 2.08%, to 9,375.78.
NEW YORK: A gauge of global equities broke out of a three-week trading range on Wednesday as investors bet on a rapid recovery from the coronavirus-induced recession.
Oil prices climbed 3%-4% on signs of improving demand and a drawdown in U.S. crude inventories, while a surge in Facebook Inc and Amazon.com Inc to record highs lifted the Nasdaq to within 5% of its all-time peak.
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