NEW YORK: Wall Street stocks finished higher on Thursday following a volatile session as investors weighed massive government stimulus measures being proposed against some of the first data showing the sharp US economic slowdown underway.
Economists are slashing their outlooks as more sectors of the US radically curtail activities, shutting down stores, cutting transportation routes and suspending or slowing manufacturing. "We are still in the first inning," said Keith Buchanan, portfolio manager at Globalt."We just don't know where this is going, there is no precedent and that is what is making the market so hysterical."The US has recorded 10,755 cases of new coronavirus infection, 154 of them fatal. But authorities expect the number to increase steeply in the coming days because of increased levels of testing after initial delays.
Not much confidence.
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