Stock Market Rallies as Congress Nears $1.6 Trillion COVID-19 Stimulus Package

By  //  March 24, 2020

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Dow Jones up nearly 8% on Tuesday

ABOVE VIDEO: National Economic Council Director Larry Kudlow on coronavirus stimulus and when Americans could be going back to work.

(FOX NEWS) – U.S. equity markets surged Tuesday morning amid investor optimism that members of Congress will overcome their differences to reach a deal on a $1.6 trillion COVID-19 stimulus package.

The upbeat sentiments were boosted by comments from President Trump, who said he supports reopening businesses sooner rather than later.

The Dow Jones Industrial Average surged 1,770 points, or 9.5 percent, while the S&P 500 and Nasdaq Composite gained 8.6 percent and 7.4 percent, respectively.

The rally followed a plunge on the major averages Monday despite the Federal Reserve announcing it would buy unlimited amounts of assets to support the economy.

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