Dow Jones jumps back above 23,000 in early trading

US stocks rose in early trading on Tuesday, as investors grew more optimistic about a slowdown in new infections and deaths of the coronavirus in several countries, led the US.

The US announced a drop in the number of new infections and deaths in the past few days, with Italy and Spain confirming a similar decline in the pandemic.

The former Chair of the Federal Reserve, Janet Yellen, estimated that the US GDP will contract by 30% during the second quarter of this year, and added that the current US unemployment rate is by 12% or 13%.

As for stocks, Dow Jones rose 2.3% or 520 points to 23,200 as of 14:20 GMT, Nasdaq rose 1.3% or 106 points to 8,019, and S&P 500 added 1.8% or 50 points to 2,712.