JUST IN: Dow rebounds, on track to set new record

MARCH 24, 2020

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by CNBC:

Stocks rebounded aggressively from a three-year low on Tuesday as investors hoped U.S. lawmakers were close to an agreement on a stimulus bill to rescue the economy from the damage caused by the coronavirus.

The Dow Jones Industrial Average soared 1,841 points, or more than 10%, and was on pace for its biggest one-day gain since October 2008. The S&P 500 gained 8.4% while the Nasdaq Composite advanced 7.2%. The Dow and S&P 500 closed at their lowest levels since late-2016 on Monday.

The article goes on to state the following:

Tuesday’s moves followed yet another stormy day on Monday as investors swung back to pessimism and pushed the major indexes to new multiyear lows as a procedural vote in the Senate on a bill failed for the second time in 24 hours.

Stocks that were hard-hit by coronavirus shutdowns led the gains Tuesday, the report notes, providing the following examples:

  • Wynn and MGM Resorts were both up more than 14%.
  • Delta Air Lines was up more than 15%.
  • General Motors was up nearly 15%.

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