Dow Jones Soars Late with 1,600 Point Gain, S&P 500 Rises 7-Percent as Talks of New Round Stimulus Heat Up
By Fox Business // April 6, 2020
ABOVE VIDEO: Dow reacts as coronavirus cases stabilize in some areas.
(FOX BUSINESS) – U.S. equity markets soared late Monday on chatter that a new round of fiscal stimulus valued at $1.5 trillion could come by mid-May, as reported by FOX Business’ Charlie Gasparino.
The report fueled a late-day surge that added to the strong gains that developed early in the session after new data showed COVID-19 could be slowing in some of the hardest-hit areas.
The Dow Jones Industrial Average gained 1,627 points or 7.7 percent, while the S&P 500 and Nasdaq Composite were higher by 7 percent and 7.3 percent, respectively. It was the third-largest point gain for each.
The number of new cases over the weekend in New York City, the U.S.’s epicenter for the virus, rose by 30.4 percent versus last week, down from a 46.1 percent jump the week prior.
As of Monday afternoon, the number of fatalities was effectively flat for the past two days.
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