Wall St. extends record rally as China steps up effort to limit coronavirus impact


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Wall St. extends record rally as China steps up effort to limit coronavirus impact

On Thursday, the 6th of February 2020, a slew of US stocks had reported solid gains, while all three key indices of Wall St. had wrapped up the day in an affirmative territory for the fourth straight session in a row as the Wall St.’s main indices shot up to record closing highs following growing investors’ optimism over China’s approach to limit financial fallouts of the coronavirus epidemic.

In point of fact, Thursday’s (February 6th) Wall St. rally was almost entirely feathered by an announcement from the Chinese Finance Ministry that it had halved import duties on more than 1,700 US goods in a bid to offset financial blows of China’s Wuhan coronavirus that killed more than 500 people in last two weeks and infected thousands.

Meanwhile, addressing to an impact of a raft of positive earnings’ report aside from the China move, a Director of Wealth Management Research at DA Davidson in Seattle, James Ragan said on Thursday’s (February 6th) Wall St.

closure, “Maybe cooler heads have prevailed regarding the long-term impact of coronavirus….earnings’ reports have been positive. ” Citing statistics, on Thursday’s (February 6th) Wall St. wrap-up, Dow gained 0.31 per cent to 29,383.11, S&P added 0.31 per cent to 3,345.03, while the tech-heavy Nasdaq composite surged 0.61 per cent to wind down the day at 9,566.22.