Wall Street is growing due to hopes for stimulus measures
US, WASHINGTON (ORDO NEWS) — Wall Street grew on Monday as investors hoped that the economic impact of the coronavirus outbreak could still be limited, while US President Donald Trump extended his “stay at home” recommendations and announced Friday massive stimulus package.
Record support of $ 2.2 trillion and an unprecedented easing of monetary policy by the US Federal Reserve pushed the S&P 500 index to its maximum weekly increase in ten years, and the Dow Jones index since 1938.
“Massive monetary and fiscal measures give investors enough time to gauge the extent of the economic damage,” said Stephen Innes, market strategy specialist at AxiCorp.
“Prices are gradually stabilizing, and interest in risk is recovering as market makers fill up the shopping list.”
By 16:59 Moscow time, the Dow Jones index rose 0.96% to 21.849.06 points, the S&P 500 – 1.35% to 2.578.65 points, and the Nasdaq Composite – 2.00% to 7.652.84 points.
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