NEW YORK (AFP) - Wall Street stocks finished with solid gains on Wednesday (April 8) as the market embraced data from New York and other coronavirus hotspots that suggested the outbreak was leveling off.. Read more at straitstimes.com.
NEW YORK - Wall Street stocks finished with solid gains on Wednesday as the market embraced data from New York and other coronavirus hotspots that suggested the outbreak was leveling off.The broad-based S&P 500 also gained 3.4 per cent to 2,749.98, while the tech-rich Nasdaq Composite Index advanced 2.6 per cent to 8,090.90.
"The virus is either at its peak or very close to peaking, which raises hope that, by the end of May, we can start to get business activity going again," said Karl Haeling of LBBW. There is also uncertainty over how much longer social distancing measures will be needed, dimming the growth outlook and setting the stage for stocks to potentially retest the lows of a few weeks ago.
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