Stocks Rise as Fed Pledges Lasting Support for the Economy

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The Dow gained about 500 points on hope for progress on a coronavirus treatment and as the Fed vowed strong action to support the economy

The U.S. economy shrank at a 4.

8% pace in the first quarter as many companies report losses, President Trump’s action to keep meat-processing plants open is criticized by unions, and labs say Covid-19 testing capacity is unused. WSJ’s Shelby Holliday has the latest on the pandemic. Photo: Marcus Santos/Zuma Press

 

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