Stocks rise as reopening optimism beats bad data

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The gains are the latest instance of markets looking at economic reports that are bad, but not significantly different than expected, and instead focusing on positive news. coronavirus

in the United States last month, although historic, was not quite as bad as feared and failed to put much of a dent in market confidence., the US government reported, which compares to the 21 million market consensus established by data firm Factset.

Major US indices were in positive territory the whole session, with the Dow finishing up more than 450 points, or 1.9%, at 24,331.32. Art Hogan, chief market strategist at National Securities, said investors believe the economy will bottom out in the 2nd quarter and improve after that.

 

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