US: Hope for end to virus buoys Wall Street, Dow ends +7.7%
[NEW YORK] Hopes that the economy-crushing coronavirus pandemic might be easing sent Wall Street climbing sharply on Monday, with all three main indices higher at the close of trading.
The Dow Jones Industrial Average powered more than 1,600 points higher, a gain of 7.7 per cent, to close at 22,679.99 after New York Governor Andrew Cuomo said the death rate in the hardest-hit US state was "effectively flat" for the past two days even as he extended a lockdown until the end of the month.
The broad-based S&P 500 closed at 2,663.68, a gain of 7.0 per cent, while the tech-rich Nasdaq won 7.3 per cent to finish at 7,913.24.
AFP
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks extend gains on Tuesday led by banks; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN
Europe: Stocks rebound after last week’s selloff, eyes on earnings and data