U.S. Stocks Rebounding Strongly Following Last Week's Sell-Off

(RTTNews) - Stocks have shown a strong move to the upside over the course of the trading day on Monday after experiencing the worst week since the 2008 financial crisis. The major averages have all climbed firmly into positive territory.

In recent trading, the major averages have reached new highs for the session. The Dow is up 768.68 points or 3 percent at 26,178.04, the Nasdaq is up 247.97 points or 2.9 percent at 8,815.34 and the S&P 500 is up 84.12 points or 2.9 percent at 3,038.34.

The rebound on Wall Street is partly due to bargain hunting, with traders picking up stocks at reduced levels following the sell-off seen in recent sessions.

The Dow ended last Friday's trading at a nearly nine-month closing low, while the S&P 500 finished the day at its lowest closing level in four months.

Traders also seem optimistic about central banks around the world taking action to counteract the impact of the coronavirus on the global economy.
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