U.S. stocks gained strength on Wednesday, thanks to investors’ optimism over rebound in oil prices, decent corporate earnings and the U.S. Senate’s approval of a coronavirus relief package worth $484 billion, aimed to assist small businesses.

The three major indices — the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite — closed in the green on Wednesday. The Dow Jones Industrial Average closed at 23,475.82 after increasing 2%, the broader S&P 500 reached 2,799.31after rising 2.3% and the tech-laden Nasdaq Composite hit 8,495.38 after adding 2.8%.

The fear-gauge CBOE Volatility Index (VIX) declined 1.1% to close at 41.52 on Apr 22.

Oil Prices Find Some Ground

Major U.S. benchmarks were supported by an upward movement in oil prices on Wednesday. The commodity managed to

Read More At Article Source | Article Attribution