Stocks rallied today after Trump signed the $484 billion coronavirus relief bill by skleb1234
The market rose for a third straight day as stocks got a boost from rebounding oil prices and news that President Trump signed the latest coronavirus stimulus bill into law earlier today.Anna Moneymaker/The New York Times/POOL/Getty ImagesThe Dow Jones industrial average was up 1.1%, over 250 points, on Friday, while the S&P 500 rose 1.4% and the Nasdaq Composite 1.7%.
Oil prices also continued to rebound: WTI crude oil futures have stabilized since their unprecedented selloff earlier this week, rising over 20% on Thursday and almost 4% on Friday.coronavirus relief bill to replenish funds for emergency small business lending programs, national coronavirus testing and hospitals.
Although Congress has now passed four stimulus bills to help contain the economic damage from coronavirus, “its work isn’t finished yet”—state and local governments still require funding or they will be “forced to enact growth-crushing spending cuts,” says Vital Knowledge founder Adam Crisafulli.“Near-term growth and earnings trends are awful,” admits Crisafulli.
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