Tuesday 7 April 2020
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scmp - 11 days ago

Coronavirus: US stocks rise on massive stimulus plan, defying record jobless claims

US stocks rose Thursday morning despite a report of record jobless claims, on confidence that a massive stimulus package approved by the Senate late Wednesday night could help stabilise the economy beset by the Covid-19 outbreak.The Dow Jones Industrial Average increased more than 400 points, or nearly 2 per cent, tracking to register its third consecutive daily gain. The Standard Poor’s 500-stock index and the tech-heavy Nasdaq composite both started the trading day up 2 per cent.The rally…

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