US closes higher on economic recovery hopes
Trading on Wall Street finished with strong gains on Tuesday as the Dow Jones surged over 130 points. United States Treasury Secretary Steven Mnuchin said the upcoming congressional economic stimulus package bill will be “focused on jobs,” while White House Economic Adviser Larry Kudlow reassured that there will not be a second nationwide lockdown in the country. St. Louis Federal Reserve President James Bullard stated that the coronavirus pandemic didn’t turn out to be “as bad as expected.
The Dow climbed 130 points at the close or 0.50% as Nike Inc. rose by 2.42%. The S&P 500 closed 0.43% in the green with Mohawk Industries jumping 12.77%. The Nasdaq 100 gained 0.78% at the closing bell. Expedia Group went up by 4.19%.
The euro traded 0.44% higher against the dollar to sell for $1.13105 at 4:00 pm ET.
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