U.S. stocks rise for 2nd straight day at end of a brutal week

If the gains hold they would mark the first back-to-back advance for the market in more than five weeks.

The S&P 500 is down roughly 28% since reaching a record high a month ago. It's close to its lowest point since late 2018. Hopes are rising that there will be progress in finding virus treatments and that "a boatload of stimulus by both central banks and governments will put the global economy in position for a U-shaped recovery," said Edward Moya of Oanda in a report.

On Thursday, the European Central Bank launched a program to inject money into credit markets by purchasing up to 750 billion euros in bonds. The Bank of England cut its key interest rate to a record low of 0.1% and restarted its own program of money injections into the financial system. Australia's central bank cut its benchmark lending rate to 0.25%. Central banks in Taiwan, Indonesia and the Philippines also cut rates.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks, U.S. futures rise on virus aid hopesGlobal stock markets and U.S. futures rose Friday on hopes government and central bank action can shield the world economy from a looming recession caused by the coronavirus.
Source: CTVNews - 🏆 1. / 99 Read more »

A look at the sectors and stocks bucking the U.S. bear marketA look at the sectors and stocks bucking the U.S. bear market GlobeInvestor acoyne Globalization taking a huge hit here...
Source: globeandmail - 🏆 5. / 92 Read more »