Home » US stocks rebound as pharma firms show momentum in virus fight | Coronavirus pandemic
All three major indexes end session higher, but Dow and S&P are still more than 20 percent off recent record highs.
United States stock markets closed higher Monday after President Donald Trump abandoned the idea of getting the economy back up and running by Easter (April 12) but as pharma companies signalled momentum is building in the fight against coronavirus.
The Dow Jones Industrial Average closed up 690.70 points or 3.19 percent at 22,327.48.
The S&P 500 Index – a proxy for US retirement and college savings accounts – closed up 3.35 percent, while the tech-heavy Nasdaq Composite Index ended the session 3.62 percent higher.
All three major US indexes soared last week after legislators in Washington passed a $2.2 trillion virus rescue package to help individuals, industries and businesses great and small knocked sideways by coronavirus containment measures. But the 30-share Dow and the S&P 500 are still down more than 20 percent from recent record highs.
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