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Dow soars 553 points on mounting optimism around a strong economic recovery

Dow soars 553 points on mounting optimism around a strong economic recovery
Mario Tama / Getty Images



US stocks rose on Wednesday as investors were encouraged by signs that global authorities were taking measures to boost economies.




The European Commission proposed an $826 billion stimulus package intended to aid recovery from the coronavirus-induced recession.




A midday swoon was alleviated when chipmaker Micron issued a quarterly sales forecast that beat Wall Street estimates, spurring a rally in semiconductor stocks and pulling the tech-heavy Nasdaq out of negative territory.




Oil slipped after an IEA report forecast a record drop in global energy investment this year.




Read more on Business Insider.




US stocks rose on Wednesday as investors were encouraged by signs that international authorities were taking measures to boost the global economy.
The European Commission on Wednesday proposed an $826 billion stimulus package intended to aid recovery from the coronavirus-induced recession. If enacted, it would be the largest stimulus package in European history.
All three major indexes swooned in midday trading before rebounding after chipmaker Micron issued a quarterly sales forecast that beat Wall Street estimates. That spurred a rally in semiconductor stocks and lifted the tech-heavy Nasdaq Composite index out of negative territory.
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