Wall Street climbs on stimulus hopes, as S&P, Nasdaq hit multi-month highs

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The three major averages on Wall St. notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.

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NEW YORK (Reuters) – The three major averages on Wall St. notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 13, 2020. REUTERS/Andrew Kelly

Volume on U.S. exchanges was 10.68 billion shares, compared to the 11.36 billion average for the full session over the last 20 trading days.

Advancing issues outnumbered declining ones on the NYSE by a 4.23-to-1 ratio; on Nasdaq, a 3.70-to-1 ratio favored advancers.

The S&P 500 posted 14 new 52-week highs and no new lows; the Nasdaq Composite recorded 76 new highs and 10 new lows.

Reporting by Chuck Mikolajczak in New York; Additional reporting by Ambar Warrick and Medha Singh in Bengaluru; Editing by Leslie Adler


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Author:

The three major averages on Wall St. notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve.

Source: {authorlink}

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