Wall Street closes mostly higher on economic optimism

Tuesday, 26. May 2020 22:01

Stock markets on Wall Street closed mostly higher on Tuesday after White House economic advisor Larry Kudlow revealed that the administration is ready to finance the return of American firms' supply chains from China to the US, while also adding that Beijing informed them that the trade deal between the two countries is "intact." Meanwhile, Senate Majority Leader Mitch McConnell stated that another coronavirus-related aid bill will be discussed by Congress "in the next month or so."

The Dow Jones Industrial Average index surged 2.17%, or 529 points, at the close. Goldman Sachs led the gains, advancing by 8.96%. The Nasdaq 100 lost 0.26% as Take-Two Interactive Software dropped the most, 7.34%. The S&P 500 rose by 1.23% as Alliance Data Systems skyrocketed by 17.53%.

The euro was 0.83% higher compared to the dollar, changing hands for 1.09863 at 4:04 pm ET.

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