Equities rebound after Fed, administration step up stimulu

The three major U.S. stock markets continue to rebound after the Fed steps up with more monetary stimulus and President Trump seeks to get an $850B fiscal stimulus package through Congress to stabilize the U.S. economy from the effects of the coronavirus.

See also: “Looking at sending checks to Americans immediately” – Mnuchin (March 17)

S&P 500 gains 3.9%, Nasdaq advances 3.7%, while the Dow rises 2.1%.

10-year Treasury yield gains 7 basis points to 0.81%.

Crude oil gains 1.1% to $29.00 per barrel; gold rises 3.8% to $1.542.60 per ounce.

The U.S. Dollar Index jumps 1.6% to 99.65.

All 11 S&P 500 industry sectors are up decisively, with utilities (+10%) and consumer staples (+6.2%) leading the climb. Industrials (+1.2%) and energy (+1.5%) gain the least.

Markets are also rising across the Atlantic — Stoxx Europe 600 rises 2.0%, FTSE 100 +1.4%, DAX +2.7%, FTSE MIB +3.2%.

https://seekingalpha.com/news/3552575-equities-rebound-after-fed-administration-step-up-stimulus