Dow Jones jumps 11%, notches largest daily gains since 1933

2020-03-24 21:26:51 GMT (Economies.com)
Dow Jones jumps 11%, notches largest daily gains since 1933

US stocks jumped on Tuesday, to extend their gains and posting the best daily performance since the 1933 Great Depression in the US.

 

This came in tandem with the US Congress preparations to pass the US $2 trillion fiscal stimulus package to support all US companies and families to counter the coronavirus.

 

The US Treasury Secretary, Steven Mnuchin, assured that the US is able to eliminate the coronavirus and its impact within 12 weeks.

 

While President Donald Trump said he wants normal life to continue until Easter and afterward decide to take tougher measures if the crisis continued to escalate.

 

Data showed today that the US services PMI contracted to its all-time low during March, indicating the coronavirus impact on the US economy, and the manufacturing PMI also fell during the same period.

 

To the oil market, WTI crude rose by 2.8% to settle at $24.01 a barrel, with an intraday high of $25.1 and a low of $23.1.

 

Brent rose 0.4% to $27.15 a barrel, after it hit a high of $28.6 and a low of $27.1.

 

As for stocks, Dow Jones rose 11.4% or 2113 points to close at 20,705, and hit an intraday high 20,737 and a low 19,649.

 

Nasdaq added 8.1% or 557 points to 7,150 points, with a high of 7,418 and a low of 7,169 points.

 

S&P 500 rose by 9.4% or 210 points to close at 2,447 with a high of 2,449 and a low of 2,344.

 
 
 
  Symbol Last Change Chg.%
1.0809
-0.0326
2.9264%
1.2267
-0.0188
1.5090%
Tadawul
6752.19
2.50
0.04%
14.417
-0.029
0.201%
28.815
6.987
32.012%
34.94
5.00
16.70%
1620.000
-0.150
0.009%
 
 
US
 
Europe
 
Asia