Asian equity markets were poised to edge higher on Thursday after rebounding crude prices and the promise of more U.S. government aid to ease the economic pain inflicted by the coronavirus crisis helped calm global equity markets.
Better-than-expected U.S. corporate earnings also lifted equities, analysts said, prompting investors to edge out of perceived safe-haven assets like U.S. Treasuries on Wednesday.
On Wall Street, all 11 S&P 500 sector indexes traded higher as the U.S. Senate unanimously approved the new relief package, adding to trillions of dollars in stimulus that have helped Wall Street rebound from its March lows. Still, it may take European Union countries until the summer if not longer to agree on how to finance aid to help economies recover from the pandemic as major disagreements persist, a bloc official said on Wednesday.
On Wall Street, the Dow Jones Industrial Average rose 456.94 points, or 1.99%, to 23,475.82, the S&P 500 gained 62.75 points, or 2.29%, to 2,799.31 and the Nasdaq Composite added 232.15 points, or 2.81%, to 8,495.38.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street tumbles as oil crash adds to pandemic fearsWall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Read more »
Here's what every major Wall Street analyst is predicting for Netflix earnings after the bellNew for subscribers: Here's what every major Wall Street analyst is predicting for Netflix earnings after the bell Check out CNBCPro for a free trial.
Read more »
Pakistani Authorities Seek Reinstatement of Death Penalty in Killing of Wall Street Journal Reporter Daniel PearlPakistani authorities asked the country’s highest court to reimpose the death penalty for a British national accused of kidnapping and killing Wall Street Journal reporter Daniel Pearl, after a lower court had overturned the 18-year-old murder conviction earlier this month.
Read more »
Wall Street surges as Congress preps more stimulus and oil bounces backWall Street surged on Wednesday as oil prices recovered and Congress looked on course to approve nearly $500 billion more in aid to help small businesses ride out the coronavirus crisis.
Read more »
Wall Street tumbles as oil crash stirs pandemic fearsWall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Read more »