Stocks rise as Bernie Sanders drops out of US presidential race

Home Depot closing at 6 p.m. local time due to COVID-19


Stocks added to early gains Wednesday after Sen. Bernie Sanders dropped out of the U.S. presidential race.

A strong showing by former Vice President Joe Biden in the Democratic primaries buoyed investors who view him as a more business-friendly alternative to Sanders, a strong critic of Wall Street.

The Dow Jones industrial Average climbed nearly 600 points, a day after it suffered its worst intraday reversal since 2008. The Standard & Poor’s 500 rose 2.2%, driven by gains in beaten down energy, technology and financial shares. 

Stocks opened higher Wednesday on hopes the number of new coronavirus cases is beginning to fall. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told Fox News Wednesday the U.S. death toll from the virus was lower than initially thought. U.S. health officials are planning ways for Americans to return to normal activities if social distancing measures are successful in curbing the outbreak, he said. 


Source link

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.