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US stocks rose on Wednesday as investors were encouraged by signs that global authorities were taking measures to boost economies.
The European Commission proposed an $826 billion stimulus package intended to aid recovery from the coronavirus-induced recession.
Oil slipped after an IEA report forecast a record drop in global energy investment this year.
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US stocks rose on Wednesday as investors were encouraged by signs that international authorities were taking measures to boost the global economy.
Later in the day, all three major US indexes pared gains and the Nasdaq fell into negative territory when tech slumped as investors ditched “stay at home” stocks. Netflix fell as much as 4%, while Zoom video communications slumped nearly 4%. Amazon, Teladoc Health, and Shopify all fell as much as 3%, nearly 7%, and nearly 6% respectively. See the rest of the story at Business Insider
The world’s biggest investors are notoriously skeptical of the stock market’s bet for a quick economic recovery — and warning that the ‘fantasy’ rally will soon come crashing down‘Likely to be excruciating’: A notorious stock bear says investor reliance on Fed money-printing is misguided — and warns of more than 50% crash from current levelsMultiple readings of the stock market’s future are near their worst levels ever. UBS says that’s set up a ‘significant recovery’ — and lays out a 2-part playbook to profit from it.
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