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Wall Street surges in third straight day of gains

Published 03/26/2020, 05:45 AM
Updated 03/26/2020, 04:15 PM
© Reuters. Traders work on the floor of the NYSE in New York

© Reuters. Traders work on the floor of the NYSE in New York

NEW YORK (Reuters) - Wall Street rallied for a third straight session on Thursday as record weekly jobless claims came in below investors' worst fears and investors focused on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives.

© Reuters. Traders work on the floor of the NYSE in New York

The Dow Jones Industrial Average (DJI) rose 1,351.62 points, or 6.38%, to 22,552.17, the S&P 500 (SPX) gained 154.51 points, or 6.24%, to 2,630.07 and the Nasdaq Composite (IXIC) added 413.24 points, or 5.6%, to 7,797.54.

Latest comments

This is great chance for Russia or China to totally collapse US economy, get global leadership. Force to US to stock same amount of GOLD as the same of dollar that printing unlimitedly. U.S SHOULD STOP QUANTITY EASE OR NATIONAL BANKRUPT. What are you waiting for Russia, China?
I'll just wait down here to catch stuffs when they start falling! Productivity and employment down and stocks going up...It's voodoo economics.
you guys keep shorting while i make 30% daily.
2 out of 3 of all my friends filed for unemployment. They are still employed lol thats numbers are way off. In 2 weeks, that unemployment # will be only 1mil. Those numbers are so far off its incredible that people believe this data
Sounds like 2 out of 3 of all of your friends are freeloaders that should be voting for a Socialist.
I am going short at 8000
Nothing of value was learned from 2008. Let the bubble begin once again.
PMI down, stock market up.Break record high jobless claims, stock market up. Next will be new coronavirus cases more than China, stock market up, I am pretty sure.
juz follow the trend. dont think too much.
I never thought I would see 3.2million new unemployed and skyrocketing stock market in the same headline. Something is wrong, I think we going to have a major trouble with stock market which is irrational.
You are all being taken for a ride. Hospitals are empty. This is a flu like any other.
Yes
2 Trillian US Dollar Flu
Midway, I hope for your sake you are being sarcastic. This isn't 1800. We literally have video evidence of what's going on (try google) so you can't just claim it's untrue.
Early on your “great president” told the American people and the world the coronavirus was nothing but a hoax, and it cost everyone valuable time to lessen the number of infections at a cost of at least $2.2T. This will not help Trump’s record-high deficit, which he said during his camoaign was already too high! Sad.
Every free enterprise relying on the govt. Greedy funds buying everything up on bail out. When did US if A become a communist country where everyone gets feed and clothe by the govt. Why bother with free enterprise and stock markets.
when all this is over and done - the US debt/GDP will be 150+ (both because GDP falls, and debt skyrockets) Equal with the one of Greece
shorting the market is not patriotic! the virus is just a flu even less severe!
your comments give me headaches
Follow the money for gains as logic in this market no longer makes sense
we have no jobs and you are buying companies which generates zero revenue what are you buying now? it's time to buy gold or hold cash  this is not the time to invest
Jobless claims soar past 3 million to record high, that’s an increase of 2,647,034, or 1,052.9%, from the previous week. People have no jobs to make payements and firms generate ZERO revenue. You are investing into stock of firms which generate no revenue?!?!? Are we out of our mind?!?!?! Is there any clear sign that we are recovering from COVID19 virus??? Do not buy stock yet, the worst even has not come yet!!!
for the ignorance of some comments here who doesn't see what's really happening. markets are up because the FED are a criminal enterprise that control everything financial in this country. FED pumping billions into the stock market to avoid total collapse. based on unemployment claims, people not working or producing and companies on the verge of bankruptcy waiting for bailout $$. these markets are fluctuating based on fear and emotion right now and not strong fundamentals. more sell offs coming
No amount of money will stop COVID 19.
The stimulus was defined as "open-ended" early on - so what ever it takes...
So basically, the stock market can only go up not with sound investments and business practices, but with the promise of Government intervention and free money.  Got it.
Yep. Until we get hyperinflation like Venezuela as a result.
Stimulus is long priced in. More ****reporting the market is rallying because the virus is done. Im making a ton stop shorting.
im laughing at the people shorting too. this is a once in a lifetime opportunity
so, let's hope for even more job cuts so that se get more stimulus .... ans so on ....
I guess at least it devalues our dollar but i would think when we go 1 year later and try to calculate valuations.....Houston we have a problem
the entire planet is in dollar, don´t worry, the dollar is going to keep strong until the production restart in the emerging market to get out of the dollar.
I cant understand this like then ad news is good because mmore stimulus that will feed families not be pumped into stocks might come cause if it
this is a new bull market! thanks to Mr President!
ya trumps really done it all to hands down for the guy I hated to see elected and now support fully. but this is going to cause this next week to make allot of margin calls unortutunitley.
Are you smarter than a shoeshine boy? The late Joe Kennedy sold short and President Hoover sold all his stock when the market peeked peaked before the great crash of '29'.All on the advice of Joe's Shoeshine boy.
So DOW and S&P500 has nothing to do with real life problems? It goes up when more and more people suffer? So more money out of thin air will lift the stocks? So the stocks are not representing any value? I do not understand it. Is it just a gamble and there is no true value in somewhere?
Study some economy and you will eventually understand.
technically stocks represent the future estimation of value in the future. not the present. that's why a country producing less can have a good year in the stock if the market believe that in the short therm the conditions get better.
yeap, market is gambling and someone is making a lot of money no matter which way it goes up or down... valuations are fake most of the time. public companies are 'public' only 20-30% and the rest of 70% is owned by a handful of institutions and individuals. look at Tesla, Virgin Galactic, etc, etc from Dec 2019 to Feb 2020. artificially increased valuations, suddenly market crashes (possible only if the majority of shareholders starts selling at once )... unfortunately markets control everything these says including politics and any other decision... i didn't understand this until i experienced this engineered boom & crash.
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