• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Dow Wraps up Strongest Three Days Since 1931

Dow Wraps up Strongest Three Days Since 1931

March 26, 2020
Mexican Border State Asks Tourists to Travel Highways Only in Daylight Hours

Mexican Border State Asks Tourists to Travel Highways Only in Daylight Hours

July 26, 2025
LARRY ELDER: Dems Rail Against Colbert’s Cancellation — Here’s Why

LARRY ELDER: Dems Rail Against Colbert’s Cancellation — Here’s Why

July 26, 2025
Estado Fronterizo Mexicano Pide a Turistas Viajar Solo de Día

Estado Fronterizo Mexicano Pide a Turistas Viajar Solo de Día

July 26, 2025
Biden-Appointed Judge Tosses Lawsuit Against Sanctuary City Chicago

Biden-Appointed Judge Tosses Lawsuit Against Sanctuary City Chicago

July 26, 2025
NEWT GINGRICH: Beyond The August Recess

NEWT GINGRICH: Beyond The August Recess

July 26, 2025
CBS Trades One 60 Minutes Liberal Insider For Another

CBS Trades One 60 Minutes Liberal Insider For Another

July 25, 2025
JENNY BETH MARTIN: No Amnesty: America’s Immigration System Must Respect The Rule Of Law

JENNY BETH MARTIN: No Amnesty: America’s Immigration System Must Respect The Rule Of Law

July 25, 2025
Dem Admits Party’s Epstein Files Attack Line Is ‘Bulls*it’

Dem Admits Party’s Epstein Files Attack Line Is ‘Bulls*it’

July 25, 2025
‘It’s Important We Send A Message’: Tom Homan Tells Stephen A. Smith Why Trump Admin Can’t Only Deport Criminals

‘It’s Important We Send A Message’: Tom Homan Tells Stephen A. Smith Why Trump Admin Can’t Only Deport Criminals

July 25, 2025
Arizona Woman Sentenced For Scheme Helping North Koreans Steal American Jobs

Arizona Woman Sentenced For Scheme Helping North Koreans Steal American Jobs

July 25, 2025
Corporate Media Mostly Sidestepping Russiagate Revelations For Torrent Of Trump-Epstein Coverage

Corporate Media Mostly Sidestepping Russiagate Revelations For Torrent Of Trump-Epstein Coverage

July 25, 2025
Carteles en México Usan Choques Con Camiones Para Atacar Autoridades

Carteles en México Usan Choques Con Camiones Para Atacar Autoridades

July 25, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Saturday, July 26, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

Dow Wraps up Strongest Three Days Since 1931

by Reuters
March 26, 2020 at 4:41 pm
in News
235 17
3
Dow Wraps up Strongest Three Days Since 1931

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The Dow Jones Industrial Average <.DJI> wrapped up its strongest three days in nine decades on Thursday as record weekly U.S. jobless claims came in below investors’ worst fears and the focus stayed on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives.

The Dow was up 21% from its Monday low, establishing it in a bull market, according to a widely used definition. It was the Dow’s strongest three-day percentage increase since 1931.

The number of Americans filing claims for unemployment benefits surged to 3.28 million last week as state-wide lockdowns brought the economy to a halt and unleashed a wave of layoffs.

The median expectation of analysts polled by Reuters was for 1 million claims, but the top end of the forecast was as high as 4 million.

Expectations are high that the U.S. House of Representatives will pass the stimulus measure to support distressed industries, including airlines, after the Senate cleared the proposal.

It would flood the country with cash in an effort to stem the crushing economic impact of an intensifying pandemic that has killed about 1,000 and infected nearly 70,000 people in the United States.

As well as the Dow, the S&P 500 <.SPX> index logged three straight day of gains for the first time since mid-February, before coronavirus fears stopped Wall Street’s 11-year bull market. Since Monday, the S&P 500 has surged about 17%, although it remains down 22% from its Feb. 19 record high.

“It’s encouraging to see people buying a day after a big up day because we hadn’t seen that in a month,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “That doesn’t guarantee that the bottom is in, but it is indicative of a bottoming process.”

Boeing Co <BA.N> rose 14%, boosted by a $58 billion provision for the aerospace industry in the latest aid bill. Boeing has surged over 90% in the past four sessions.

Adding to upbeat sentiment, Federal Reserve Chair Jerome Powell said the central bank stood ready to act “aggressively” to shore up credit in the market on top of the unprecedented policy easing announced on Monday.

“He said the Fed is not going to run out of ammunition and that the committee still has policy room for more action,” said Charalambos Pissouros, senior market analyst at JFD Group in Cyprus.

“By saying that he raises the question – will they go for negative interest rates?”

Many analysts expect more wild market swings, with macroeconomic indicators likely to worsen heading into the second quarter as a breakdown in business activity and fears of corporate defaults foreshadow a deep global recession.

The CBOE volatility index <.VIX> fell 2.9 points, but was still near levels far above those in 2018 and 2019.

The Dow Jones Industrial Average <.DJI> jumped 6.38% to end at 22,552.17 points, while the S&P 500 <.SPX> surged 6.24% to 2,630.07.

The Nasdaq Composite <.IXIC> added 5.6% to 7,797.54.

(Reporting by Noel Randewich, additional reporting by Uday Sampath and Medha Singh in Bengaluru, and Ross Kerber in New York; Editing by Bernadette Baum and Richard Chang)

Tags: Coronavirus Outbreak
Share196Tweet123
Reuters

Reuters

Reuters is an international news organization.

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th