Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Stocks - Dow Nears Session Highs on Bets of More Stimulus

Stock MarketsMar 26, 2020 02:46PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Yasin Ebrahim 

Investing.com – The Dow neared session highs on Thursday underpinned by a wave of optimism that Federal Reserve and Congress will continue to rescue the economy at a time when nationwide containment measures have brought business activity to a halt and sparked a record jump in unemployment claims.

The Dow jumped 4.97%, or 1,053 points, the S&P 500 surged 4.83% and the Nasdaq Composite rose 4.09%.

With Congress expected to pass a $2 trillion stimulus package and Fed Chairman Jerome Powell reiterating the central bank's pledge to ramp up its bond-buying program, investors are betting big on stocks once again.

In an interview with NBC News earlier Thursday, Powell conceded that the U.S. "may well be in a recession," but the Fed is "working hard" ensure that an eventual recovery will be strong as possible.

"When it comes to lending, we are not going to run out of ammunition,” he added. "That just doesn’t happen."

The pledge from the Fed chief came as Covid-19 infections in the U.S. surged above 75,000, with deaths topping 1,000. The lockdown measures to combat the virus has forced major disruptions across businesses, the effect of which was seen in the weekly initial jobless claims figures, which came in at 3.3 million. Claims hadn't topped 700,000 before. 

Industrials, meanwhile, continued to get a lift from Boeing (NYSE:BA), up 14%, as the stimulus bill - expected to be approved by the House – will provide the aviation sector with much-needed fiscal boost.

Financials, led by banking stocks also joined in on the rally even as Treasury yields fell sharply.

JPMorgan (NYSE:JPM), Goldman Sachs (NYSE:GS), and Bank of America (NYSE:BAC) rallied more than 5%.  

Lower interest rates are typically a headwind for banks, weighing on net interest margin – the difference between the interest income generated by banks and the amount of interest paid out to their lenders.






 

Stocks - Dow Nears Session Highs on Bets of More Stimulus
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (30)
Ah Chew
Ah Chew Mar 26, 2020 7:27PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
No one is reporting on virus spread... All cover up
Mojo Snake
Mojo Snake Mar 26, 2020 5:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Powell is such an inept weasel...  He will destroy this economy, when they do the postmortem when all is said and done it will be his actions that did the most damage to the country.
George Pichurov
George Pichurov Mar 26, 2020 4:26PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
many drug addicts
Nicholas Joh
Nicholas Joh Mar 26, 2020 4:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The crash started on Black Thursday, 24 October 1929, when the Dow fell by 11%. ******However, it recovered slightly by 1% on 25 October 1929 when investment bankers bought stocks to stem the panic.****** This did not last long however, and the Dow fell by 13% on Black Monday, 28 October 1929 and 12% on Black Tuesday 29 October 1929. In fact, observers estimate investors sold 16.41 million shares in day on Black Tuesday. Moreover, the Dow lost 36% or over one third of its value in three days, falling from 305.416 on 23 October 1929 to 195.466 less than a week later.
Bill Sorenson
Bill Sorenson Mar 26, 2020 4:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I'm gunna love it when we hit an all time high in the dow while dead bodies are piling up and 80% of the population is unemployed.
Anthony Yoder
Anthony Yoder Mar 26, 2020 4:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
bodies that wouldve died anyways from the flu
Bill Sorenson
Bill Sorenson Mar 26, 2020 4:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Anthony Yoder  Well considering the flu still exists I'm guessing there will be more bodies than usual with both going around
Richie Berg
Richie Berg Mar 26, 2020 3:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Like crack addict, never enough.
Amir Waqas
Amir Waqas Mar 26, 2020 3:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
why stock higher even data is positive too much ?
Malaki Philippines
BuyDipsSellTips Mar 26, 2020 3:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Someone print me 1 million please.
Tubsy SkinntFinger
TubsSkinnyFinger Mar 26, 2020 3:21PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Power to the Ponzi
Fairway TradeUS
Fairway TradeUS Mar 26, 2020 3:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Boeing promised loans. Their stock skyrockets then the shares they have bought back in the past should be worth more hence not needing a loan of that magnitudeWas their purchase of Embraer negated?How can a company necessitatins an injection of 54 bn. be able to purchase another company.The interest rate better be a hefty one and this time the bailout money should be accounted for when paid off
Raj Kapoor
Raj Kapoor Mar 26, 2020 2:59PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Dont be mislead by this rally The feds are busy buying up everthing they see in sight and pumping up the stocks also i noticed they are only buying stocks that are listed on the dow or nasdaq nothing more a lot of my shares which are not listed on either have gone down even today This is being done to show the confidence in the markets.With the highest level of unemloyment filling this week and most companies are either. Losed or functioning at minimum resourses there is no reason there should be a rally like this. The feds have taken put their bazzokas and pumping up everything whats going to happen when they become sellers in a few years
Junk Man
Junk_Man Mar 26, 2020 2:51PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The 1% is making a ****** the 99% risk being killed by the virus.
Midway Eholdings
Midway Eholdings Mar 26, 2020 2:49PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Its not stimulus. That was priced in. The virus is done for. These articles as not honest.
Howl Jenkins
Howl Jenkins Mar 26, 2020 2:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I'm sure all the people being laid off are really relieved that the Dow is climbing again. Enjoy the $1,200; think of all the cake you can buy with that. 30K again in a couple weeks right? Bagholder nation.
Paul Wall
Paul Wall Mar 26, 2020 2:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I'm laid off and when I get my cash it's going right into the market.
Howl Jenkins
Howl Jenkins Mar 26, 2020 2:40PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Paul Wall where did you get laid off from?
Urvik Upadhyay
Urvik Upadhyay Mar 26, 2020 2:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
effing criminal in the name of a chair. Honestly baffling that for every single correction in market in last 5 years, fed has reacted as if it's an apocalypse. when will we realize that it's a healthy movement for market to retract, test lows and gradually recover. I'm 27 and at this rate I'll stop contributing to 401k because this is not sustainable at all in a longer run. Bubble has to burst at some point, you can't just continue to pump air from everywhere.
Eric Haberman
Eric Haberman Mar 26, 2020 2:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
only thing of value will be stocks... currency toast, and gold will die from deflation
Ty Darapiza
Ty Darapiza Mar 26, 2020 2:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They HAVE to keep everything afloat because this is a ponzi scheme.  If it goes down to much, everything below will start to crack and the whole thing comes tumbling down.
Andrew Hook
Andrew Hook Mar 26, 2020 2:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
lol US debt per citizen was 350 k$ good I guess Bretton Woods will be back sooner than later.
charlie glass
charlie glass Mar 26, 2020 2:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
globalist media working over time to bash and fake news trump, meanwhile polls just came out showing his approval has hit all time highs, disapproval dropping. meanwhile biden is on CNN coughing into his hand and losing his train of thought even minute as the dementia worsens right in front of our eyes.
ATOMIQ ILYA
ATOMIQ ILYA Mar 26, 2020 2:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Vote blue no matter who!
Rob Omes
Rob Omes Mar 26, 2020 2:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
How can you vote for Trump talking BS?
charlie glass
charlie glass Mar 26, 2020 2:11PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
globalist media working over time to bash and fake news trump, meanwhile polls just came out showing his approval has hit all time highs, disapproval dropping. meanwhile biden is on CNN coughing into his hand and losing his train of thought even minute.
charlie glass
charlie glass Mar 26, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
for the bernie bros who do not seem to understand the different between socialism/communism and disaster relief, the government mandated many businesses close and people do not go to work. this is not the government paying people taxpayer funds simply because they exist. you have to be deeply brainwashed to not be able to understand the difference between a socialist party platform and disaster relief interventions. it is no wonder the far left agenda is suffering so much while the moderate republicans are winning, and sites like this one working overtime to ban non-democrat opinions.
Ness Prutman
Ness Prutman Mar 26, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is https://investing.com, not Fox news. Put a lid on it.
charlie glass
charlie glass Mar 26, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ness Prutman thank you for proving my point perfectly. also why fox news ratings have hit all time highs, and fake news like CNN and MSNBC have hurt multi-year lows.people like you living in an echo chamber trying to silence others are a perfect example of what i am referring to.
charlie glass
charlie glass Mar 26, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ness Prutman so what you are saying is that only fox news is allowed to have a different opinion than your own? explains why they are doing so well :)
Tom Romero
Tom Romero Mar 26, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This isn't the place for your political propaganda. The only point you've made is that you're ignorant, undisciplined and rude. This is an investment platform, not an outlet for desperate Trump c
Ben Dover
Ben Dover Mar 26, 2020 2:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Young people are being screwed by the older generations in ways they can’t even imagine.
charlie glass
charlie glass Mar 26, 2020 2:03PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
for the bernie bros who do not seem to understand the different between socialism/communism and disaster relief, the government mandated many businesses close and people do not go to work. this is not the government paying people taxpayer funds simply because they exist. you have to be deeply brainwashed to not be able to understand the difference between a socialist party platform and disaster relief interventions. it is no wonder the far left agenda is suffering so much while the moderate republicans are winning.
Alejandro Rosario
Alejandro Rosario Mar 26, 2020 1:56PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So unlimited printing
charlie glass
charlie glass Mar 26, 2020 1:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
trumps approval has risen to historic highs, while his disapproval has fallen. only people complaining are those on the twitter echo chamber and globalist media
JJ MM
JJ MM Mar 26, 2020 1:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Maybe his approval has risen, dont care to check. Its the biggest cash heist thats taken away from the people while they distract us with a virus and other BS. Only the very few who dont rely on anyone or anything for money will survive. Even those with good paying jobs that just got laid off...thats a form of socialism, you rely on your employer for a paycheck...good employee, bad employee, you still get a check. You need to be self sufficiient, be your own bank, your own finacial entity and none of this will phase you. Unfortunately it’s not inculcated in us to do so...meanwhile they want us bickering at each due to different political views, etc...and thats the globalists plan. Keep us entertained among each other as we continue to grow more hate against one another, while The Fed/Central Banks/Globalists take our cash. Its happening right now, right under own nose. All these people, The Fed, All of Congress, etc...they all sleep on the same bed! Cheers!
Andrew Hook
Andrew Hook Mar 26, 2020 1:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I do agree mate. Many people here still believe on American way of life : consume consume consume, if you can't and the majority doesn't: we give you credit and debt at 17% at least we keep you under control ( modern slavery) and we garantee you happiness ;)
JJ MM
JJ MM Mar 26, 2020 1:54PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Andrew Hook thats correct!! Its always been intended to be this way. Majority of people beleive the charades and cant see behind the facade and because they cant see behind it, most people will unfortunately feel it and struggle through it.
Notvery Goodathis
Peteymcletey Mar 26, 2020 1:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I thought for a second this was referring to 3M the company.
katya litski
katya litski Mar 26, 2020 1:37PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the cure of covid19 has been found and costs $2T
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email