Wall Street climbs on hopes of U.S. outbreak nearing peak [Reuters]
Tesla, Inc. (TSLA)
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Source: Reuters
Wall Street climbs on hopes of U.S. outbreak nearing peak (Reuters) - Wall Street rose on Wednesday on hopes the coronavirus outbreak in the United States was close to its peak and expectations that Congress will inject hundreds of billions more in the battered economy. President Donald Trump said late on Tuesday the United States might be getting to the top of the “curve” in relation to the outbreak, even as New York and several other states posted their highest number of daily virus-related fatalities. A peaking in new virus cases is widely considered one of the first steps that will push markets into a recovery, but such signals are still tentative and corporate layoffs, cutbacks and losses show no signs of slowing. “The stock markets are forward looking, so there’s anticipation that, hopefully sooner rather than later, the death count will be less than anticipated,” said Marc Pfeffer, chief investment officer at CLS Investments in Westchester County, New York. “I’d like to think t
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