By Jesse Cohen
Investing.com - Stocks on Wall Street posted their fourth weekly gain in the last five weeks as the Federal Reserve’s extra stimulus lifted the market.
The U.S. central bank announced on Monday that it would begin purchases of up to $250 billion in individual corporate bonds to support liquidity and credit for large employers.
Investors were also encouraged by reports that President Donald Trump is considering launching a $1 trillion infrastructure stimulus plan to boost the U.S. economy.
The Dow Jones Industrial Average rose 1% this week, the S&P 500 gained 1.8% on the week, while the tech-heavy Nasdaq outperformed, jumping 3.7% this week.
Stocks have rallied sharply in recent weeks, with all three benchmarks up more than 40% from their lows set on March 23, as a barrage of stimulus from the Federal Reserve and the U.S. government boosted risk appetite.
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