EDITOR'S NOTE
The Dow Jones Industrial Average soared more than 11% on Tuesday as lawmakers promised they were getting close to an agreement on a fiscal stimulus package.
The big rally on Tuesday is comforting as it was the best day for the Dow in 87 years. But investors still want to see more.
Piece by piece, the market is getting what it needs to recover from the coronavirus pandemic. First, came unlimited assistance from the Federal Reserve and soon we'll likely see an emergency response from Congress.
But still missing is for the coronavirus outbreak to start peaking in the U.S. and that's the biggest piece. The economy still remains all but closed. President Donald Trump said he wants it to reopen by Easter. This would be great for markets as long as it doesn't accelerate the pandemic in the long run, which some fear it could.
New York Gov. Andrew Cuomo pushed back as he manages the most cases out of all the states.
"I understand what the president is saying that this is unsustainable that we close down the economy," he said. But "no American is going to say 'accelerate the economy at the cost of human life.'"
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. TOP NEWS
TOP VIDEO
CNBC PRO
SPECIAL REPORTS
|
Selasa, 24 Maret 2020
Dow's best day in 87 years | Is this the start of the comeback? | Stimulus deal close
Langganan:
Posting Komentar (Atom)
Tidak ada komentar:
Posting Komentar