Stocks rallying into close – S&P up more than 7%

What looked like a really lame bounce in shares earlier today is improving in the session’s last hour, and 15 minutes before the close, the averages are at session highs.

The S&P 500 is up 5.4%, with the Dow and Nasdaq just a hair behind. Update at 3:55 ET: The S&P 500 is now up more than 7%.

The president and his team are holding a press conference now at which a national emergency has been declared, which should open up some special funding spigots to states and localities.

Congress, meanwhile, is making progress on some sort of tax cut/business assistance bill. A deal looks like it could be reached today or over the weekend. Folks might not want to be short.

https://seekingalpha.com/news/3551685-stocks-rallying-close-s-and-p-up-7