Global stocks jump on Fed stimulus, hopes pandemic is slowing

Global stocks jump on Fed stimulus, hopes pandemic is slowing
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NEW YORK (Reuters) – Global equity benchmarks gained on Thursday following signs that governments and central banks are taking additional steps to bolster their economies as measures to slow the spread of the COVID-19 pandemic appear to be working. Oil futures surged again on expectations that Russia and OPEC countries were prepared to cut production, though investors were hesitant to move out of the perceived safety of government bonds.

MSCI’s gauge of stocks across the globe gained 1.90% following broad gains in Europe and Asia.

On Wall Street, the Dow Jones Industrial Average rose 520.36 points, or 2.22%, to 23,953.93, the S&P 500 gained 56.51 points, or 2.05%, to 2,806.49 and the Nasdaq Composite added 133.05 points, or 1.64%, to 8,223.95.

Gains in the United States were bolstered after the Federal Reserve announced a $2.3 trillion effort to bolster local governments and […]

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