US stocks rebound amid stimulus hopes for further stimulus measures

NEW YORK: US equities rebounded, following a historic drop in the previous session, amid hopes for further stimulus measures to counter the novel coronavirus impact. The Dow Jones Industrial Average finished up 1,048.86 points, or 5.20 per cent, to 21,237.38 on Tuesday. The S&P 500 increased 143.06 points, or 6.00 per cent, to 2,529.19. The Nasdaq Composite Index rose 430.19 points, or 6.23 per cent, to 7,334.78, Xinhua reported. All the 11 primary S&P 500 sectors ended higher, with utilities up 13.11 per cent, outpacing the rest. The Trump administration on Tuesday expressed its intent to offer cash payments for working Americans as part of an economic stimulus package amid coronavirus fallout. We're looking at sending checks to Americans immediately," US Treasury Secretary Steven Mnuchin said at a White House press briefing. (IANS)

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