Stocks rebound on stimulus hopes after Wall Street’s worst day since 1987

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Dow soars, ends day up over 1,900 points after Trump frees up about $50 billion in federal aid to fight the coronavirus

House Speaker Nancy Pelosi said the House would move forward with a vote Friday. The bill would include free virus testing for all Americans, including the uninsured, as well as two weeks of paid sick leave for those who have to skip work due to the virus. It would also included expanded federal food assistance, such as seniors’ meals, student lunches and food banks.Friday morning, saying a deal on a virus response package with Congress was imminent.

The coronavirus has infected around 128,000 people worldwide and killed over 4,700. The death toll in the U.S. climbed to 39, with over 1,300 infections. In both cases in 2020 and 1987, the economy was at or near full employment and generally healthy going into the crash. After the 1987 crash, there were widespread calls for an imminent recession as there are today, but that didn’t play out. The stock market recovered by almost 30% from its low within the next year and rose to a fresh high within about 18 months.

 

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Dead cat bounce

Anything good that happens is because SpeakerPelosi injected her knowledge and talent

Soars!?!?! You mean began a small scale comeback after being down 20%. Give me a break...

They win. The middle class screws the pooch, again.

what's going to happen when that moneys gone?

Thanks 🙏 POTUS

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