Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Stocks - Wall Street Higher but Choppy in Nervous Trading

Published 03/13/2020, 02:03 PM
Updated 03/13/2020, 02:28 PM
© Reuters.

© Reuters.

By Yasin Ebrahim 

Investing.com – The Dow's attempt to resume its rebound toward session highs on Friday was cut short somewhat after House Speaker Nancy Pelosi said the House will pass a bill to ramp up testing of the novel coronavirus, but stopped short of signalling any progress on a deal with the White House over proposals.    

The Dow Jones Industrial Average rose 3%, or 628 points, but had been as high as 1,000 ahead of the speech. The S&P 500 added  2.4% and the Nasdaq Composite gained 2.3%.

Pelosi, in a statement at 2 PM ET (18:00 GMT), said legistlation expected to be passed today would provide free coronavirus testing, including for the uninsured, provide two weeks of sick leave and bolster unemployment insurance and food lunch programs.

The speech arrived after two days of intense talks with Treasury Secretary Steven Mnuchin over an economic aid package at time when infections in the country continue to jump. Senate Majority Leader Mitch McConnell had called the Democratic package an idealogical wishlist.  

The number of infections in the New York state has surged by more by 30% overnight to 421, New York Gov. Andrew Cuomo said Friday.

Latest comments

I dont know why anyone would wanna hold shares over the weekend in this market
Monday will open at least with 1000 point drop...getting ready my short at the high of today's market.I have quadrupled my account in the las 2 weeks.This market is perfect for momentum traders playing short-term options. long live coronavirus
Obnoxious you
You will get burned. Fed stepping up to the plate on the 18th.
Beware of a bear trap today.....
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.