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US: Stocks end up on optimism about vaccines, reopenings

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[NEW YORK] Wall Street stocks surged on Tuesday on optimism about a rebound in the United States, as more states emerge from coronavirus shutdowns and drugmakers step up efforts to find a vaccine. Read more at The Business Times.

Consumer confidence stabilized in May after two months of sharp declines as shoppers said they were more upbeat about the future, according to a survey from the Conference Board.

At a banking conference, JPMorgan Chase chief executive Jamie Dimon described US consumers as in relatively"good shape" considering the spike in unemployment. Dow member Merck gained 1.2 per cent after announcing a series of initiatives in response to the coronavirus, including the acquisition of privately-held vaccine company Themis.

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