U.S. stocks opened sharply higher on Tuesday, on track to consolidate their gains from the day before, amid hopes that the rate of increase in COVID-19 cases...
U.S. stocks opened sharply higher on Tuesday, on track to consolidate their gains from the day before, amid hopes that the rate of increase in COVID-19 cases in the U.S. and Western Europe was slowing down. The S&P 500 SPX, +2.68% rose 3.2% to 2,749. The Dow Jones Industrial Average DJIA, +3.30% advanced 865 points, or 3.8%, to 23,545. The Nasdaq Composite COMP, +2.15% tumbled 2.8% to 8,136.
Investors honed in on a slowdown in infections in France and Italy, the center of the outbreak in Europe. And for the first time since January, China reported no new deaths due to the coronavirus. The hope is that once the virus is contained, consumers and economies can resume normal activity. News reports also suggest lawmakers are discussing another fiscal stimulus package potentially worth more than $1 trillion to prop up the economy.
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