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Stocks bounce on stimulus hopes

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A rebound on Wall Street on Friday fizzled out following reports that President Donald Trump was set to declare a national emergency to tackle the ...

REUTERS: Wall Street clawed back some losses on Friday after its biggest one-day decline in three decades, as investors set their hopes on more global fiscal stimulus to stem a coronavirus-driven global recession.

Given the steep declines on Thursday - the biggest one-day percentage drop since"Black Monday" in October 1987 - investors were hoping for a stronger bounce-back in today's session. All the main S&P 500 sub-indexes were trading higher, with financial stocks rising 6.94per cent as expectations of further liquidity measures by the Federal Reserve pushed up Treasury yields, in what has become a very thin market.

Hotel operators Marriott International Inc , Hilton Worldwide Holdings and Hyatt Hotels Corp all gained at least 1per cent.

 

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