US stock markets rally after Trump surprises on stimulus

European stocks barely react while volatility remains elevated _________________________________________ US stocks gained ground on Wednesday after President Donald Trump suggested a new stimulus bill, although the chances of lawmakers agreeing to a deal before the election appeared to fade. The S&P 500 index closed 1.7 per cent higher and the tech-focused Nasdaq Composite gained 1.9 per cent, as the indices recovered from falls on Tuesday when Mr Trump announced he would walk away from negotiations with Democrats about the size of a second bailout for the pandemic-scarred economy. Mr Trump…

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Wall Street edges higher on tech boost

Equities

The S&P 500 edged higher in volatile trading on Thursday as investors cautiously bought heavyweight tech-related stocks after a recent selloff while awaiting more coronavirus fiscal aid amid growing evidence of a choppy economic rebound. Amazon.com rose 1.3% and Tesla Inc jumped 6%, supporting the Nasdaq’s advance. Stay-at-home winners Apple Inc, Microsoft Corp and Netflix Inc were marginally lower. The NYSE FANG+TM Index, which includes the core FAANG stocks, was up 1.1%. “It’s going to be a battle for the next couple of days from investors who are trying to…

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