The three major averages on Wall St were poised for their fourth gain in five session on Wednesday as investors again bet on a swift economic ...
NEW YORK: The three major averages on Wall St. notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.
"We have way lower interest rates for the foreseeable future, so that effects the multiple that we have to buy discounted stocks at," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.
As states across the country begin to loosen restrictions, hopes for an economic rebound have grown. The NYSE Arca airlines index jumped 5.35per cent as Delta Air Lines Inc's chief executive officer said he was confident travel will return in the next 12 to 18 months.
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