U.S. stocks advanced Tuesday on hopes that Congress would pass a
stimulus bill to shield the economy from the coronavirus pandemic.
The Dow Jones Industrial Average rallied more than 1,600 points after slumping to a three-year low a day earlier. The Standard & Poor’s 500 jumped 7.5%. Stock futures had briefly surged 5%, triggering an automatic shock absorber.
Stocks stabilized overnight after a turbulent start to the week as Congress was nearing a rescue plan that could inject $2 trillion into the economy. The measure is designed to provide direct payments of $1,200 to most Americans, help small businesses shuttered across the country and aid the hard-hit travel industry.
House Speaker Nancy Pelosi said Tuesday morning a deal on an economic stimulus package may be reached in the "next few hours."
Read more at: Dow: Stocks jump on hopes for a coronavirus stimulus package
The Dow Jones Industrial Average rallied more than 1,600 points after slumping to a three-year low a day earlier. The Standard & Poor’s 500 jumped 7.5%. Stock futures had briefly surged 5%, triggering an automatic shock absorber.
Stocks stabilized overnight after a turbulent start to the week as Congress was nearing a rescue plan that could inject $2 trillion into the economy. The measure is designed to provide direct payments of $1,200 to most Americans, help small businesses shuttered across the country and aid the hard-hit travel industry.
House Speaker Nancy Pelosi said Tuesday morning a deal on an economic stimulus package may be reached in the "next few hours."
Read more at: Dow: Stocks jump on hopes for a coronavirus stimulus package
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