Asian stocks gain on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures by stanleywhite1 ChrisPrentice Follow our live blog for the latest updates on the coronavirus:
FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease , at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song
New York Governor Andrew Cuomo said the state’s efforts at social distancing were working in getting the virus under control in one of the biggest hot spots in the United States. The S&P 500 gained 3.41% on Wednesday, helped by hopes the pandemic was nearing its peak. However, U.S. stock futures gave up earlier gains to be down 0.27%
McDonald’s Corp said global comparable sales tumbled 22.2% in March, while Starbucks Corp forecast a 47% drop in second-quarter earnings.
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