Stock market news live updates: Stocks rise on hopes of COVID-19 treatment [Yahoo! Finance News]
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Source: Yahoo! Finance News
Stock market news live updates: Stocks rise on hopes of COVID-19 treatmentEmily McCormickandJavier E. David•April 29, 2020ReblogShareTweetStocks advanced Wednesday morning as investors consideredpositive updates from GileadLater Wednesday afternoon, theFederal Reserve will release its latest monetary policy decision“The Fed’s unconventional policy measures have already eclipsed even those seen during the Global Financial Crisis, including open-ended asset purchases which have seen the Fed buy $1.2trn [trillion] of Treasury securities in only four weeks and the announcement of a host of new lending facilities aimed at households and non-financial businesses – initially worth up to $2.3trn,” Andrew Hunter, senior U.S. economist for Capital Economics, wrote in a note. “With the Fed repeatedly ruling out the use of negative interest rates, the fed funds target range will not be cut any further and we expect it to remain at the current near-zero level for the foreseeable future.”This week,
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