Wall Street rallies, led by healthcare jump

Wall Street rallies, led by healthcare jump

U.S. stocks rose on Monday as President Donald Trump followed last week's massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors hopeful the economic impact of the coronavirus could still be contained. A record US$2.2 trillion in aid and policy easing from the Federal Reserve helped equities recover some of their losses last week, with the S&P 500 posting its biggest weekly percentage gain in over a decade and the Dow Jones its best since 1938.

NYSE-AMEX Options floor traders from TradeMas Inc. work in an off-site trading office  due to the o
NYSE-AMEX Options floor traders from TradeMas Inc. work in an off-site trading office built when the New York Stock Exchange (NYSE) closed, due to the outbreak of the coronavirus disease (COVID-19), in the Brooklyn borough of New York City, U.S., March 26, 2020. REUTERS/Brendan McDermid

SAN FRANCISCO: U.S. stocks rallied on Monday, led in part by a climb in healthcare stocks as investors looked for shares that have become cheap and can withstand the impact to the economy from the spread of the coronavirus.

The Dow Jones Industrial Average rose 690.7 points, or 3.19per cent, to end at 22,327.48 points, the S&P 500 gained 85.18 points, or 3.35per cent, to 2,626.65 and the Nasdaq Composite added 271.77 points, or 3.62per cent, to 7,774.15.

(Reporting by Noel Randewich; Editing by Chris Reese)

Source: Reuters

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