Wall St. jumps as hopes of easing lockdown plays down earnings worries

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Wall St. jumps as hopes of easing lockdown plays down earnings worries

On Tuesday, the 14th of April 2020, a slew of US stocks had witnessed a robust upswing after yesterday’s (April 13th) tottering of Dow and S&P 500, as hopes of easing lockdown in the United States before May 1st as cited by the US President Donald Trump on Tuesday (April 14th) morning had played down frets of worrisome earnings’ reports of leading US lender JPMorgan and Wells Fargo.

Aside from Trump Administration’s effort to reopen the US economy as soon as possible to mitigate the impacts of a deepening recession, White House economic adviser Larry Kudlow was quoted saying earlier on Tuesday (April 14th) that the US President Donald Trump would make several announcements on resuming US economy over the next couple of days as the pandemic outbreak appeared to be ebbing away, which had also added to investors’ optimism.

Meanwhile, as Nasdaq had scored a fourth straight session of gain, mostly galvanized by the climbs of Amazon.com Inc. which surged by 5.3 per cent to an all-time record closing high of $2,883.32 on Tuesday’s (April 14th) market wrap-up, voicing a cautiously optimistic tone regarding the US stocks over the coming days, a chief market economist at Spartan Capital Securities in New York, Peter Cardillo said on Tuesday (April 14th), “The market is going up on prospects of the economy reopening soon and also the coronavirus (outbreak possibly) reaching some sort of peak.

We’re going to see (macroeconomic) numbers that are going to be frightening, and that will weigh. ” Citing statistics, on Tuesday’s (April 14th) Wall St. closure, the Dow added 2.39 per cent to 23,949.76, S&P 500 surged by 3.06 per cent to 2,846.06, while the tech-heavy Nasdaq climbed 3.95 per cent to wrap up Tuesday’s (April 14th) market at 8,515.74.