Dow closes over 1,600 pts in green after rally

Monday, 06. April 2020 22:01

Stock markets on Wall Street closed in the green on Monday after the number of newly discovered coronavirus cases in the country continued to decline slightly on a daily basis. Meanwhile, the United States Federal Reserve revealed earlier in the day that it "will establish a facility to provide term financing backed by PPP [Small Business Administration's Paycheck Protection Program] loans."

The Dow Jones Industrial Average index jumped by 7.73%, or 1,627 points, at the closing bell, pulled up by Boeing's gain of 19.2%. The Nasdaq 100 increased by 7.35% at the end of the trading session, as Ulta Beauty rocketed by 20.29%. The S&P 500 climbed 7.03% at the close as clothing company PVH led the gains, surging by 28.3%.

The euro was 0.11% lower compared to the dollar to change hands at 1.07966 at 4:07 pm ET.

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Breaking the News / MS