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US stocks end higher on improving virus outlook

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Gains mark latest positive day for stocks since officials point to progress in cutting down virus cases. FMTNews US Coronavirus

NEW YORK: Wall Street stocks finished solidly higher Tuesday as markets embraced better coronavirus case counts in some hotspots, even as banking earnings pointed to economic weakness.The broad-based S&P 500 jumped 3.1% to 2,846.06, while the tech-rich Nasdaq Composite Index surged 4% to 8,515.74.

Some international markets, including Italy and Austria, have relaxed some lockdown measures as US officials begin to tackle the question of how to safely reopen the economy.The International Monetary Fund said the downturn will slash US$9 trillion from the global economy in the worst downturn in almost a century.

 

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