Back

Wall Street's stocks soared Tuesday, DJIA rose 2,112.98 points

  • The Dow DJIA, added 2,112.98 points, or 11.37%, to close at 20,704.91,
  • The S&P 500 index SPX, +9.38% put on 209.93 points, 9.38%, to close at 2,447.33,
  • The Nasdaq Composite rose 557.18 points, or 8.12%, ending trading at 7,417.86.

US stocks took off on Tuesday, with the Dow Jones Industrial Average notching a record one day gain and its best percentage gain since 1933 as investors latched on to optimism from the White House of COVID-19 and the potential for stimulus from Congress agreeing on a fiscal package aimed at combatting the economic impact of the virus.

How did the benchmarks perform?

Consequently, the Dow DJIA, +11.36% put on 2,112.98 points, or 11.37%, to close at 20,704.91, the S&P 500 index added 209.93 points, 9.38%, to close at 2,447.33, and the Nasdaq Composite index rose 557.18 points, or 8.12%, ending trading at 7,417.86. For 2020, the Dow is losing 27.45%, the S&P 500 has lost 24.25%, and the technology-heavy Nasdaq is 17.33% lower.

ANZ Bank explained that we have seen enormous stimulus unleashed globally and while it cannot stop the economic slump, it does provide a safety net going forward. "Germany, which has freed up close to 35% of GDP in terms of stimulus, is considering a post-COVID-19 stimulus. The US no doubt will do the same as will other countries, and central banks seem willing to finance it."

DJIA levels

 

New Zealand Trade Balance (MoM) up to $594M in February from previous $-340M

New Zealand Trade Balance (MoM) up to $594M in February from previous $-340M
Devamını oku Previous

NZD/USD stays positive towards 0.5850 after New Zealand trader data, RBNZ’s QE

With New Zealand’s February month trade data coming in better than previous, backed by the RBNZ’s QE proposal, NZD/USD extends the recovery gains to 0
Devamını oku Next