After Trump’s comments, US stocks are closing in strong gains

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money and business

After Trump's comments, US stocks are closing in strong gains

US stocks rose sharply on Thursday, as investors suggested chances for an economic recovery following President Trump’s comments on trade with China and warnings about the United States’ handling of Corona.

While the three major indexes closed higher, they experienced volatility for most of the day, as the reopening of the economies of some states accelerated and the possibility of additional stimulus was added to renewed fears of a trade war and grim economic data.

“People who are driving the market up are seeing that we will get a vaccine at an appropriate time, that the economy will not collapse and unemployment will not jump much,” said Tim Griesky, chief investment planner at Inverness Council in New York.

“In the days of decline, the rejectionists are at the forefront of the scene, and then when the market thrives, optimistic investors see it as an opportunity,” he added.

According to unofficial data, the Dow Jones industrial average rose 1.61 percent to close at 23,622.19 points, while the Standard & Poor’s 500 Index rose 1.16 percent to 2,852.63 points.

The Nasdaq Composite Index advanced 0.92 percent to 8,944.66 points.

Source: Reuters

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