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Wall Street Ends Sharply Higher On German Stimulus Optimism


Saturday, 17 August 2019 03:34 WIB

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U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week.

While all three major U.S. stock averages ended the session higher, they still logged their third consecutive weekly losses, having been rattled since Monday by growing U.S.-China trade animosity, simmering geopolitical tensions and signals from the bond market that sparked fears of impending recession.

Germany’s coalition government is willing to suspend its balanced budget rule and take on debt, according to Der Spiegel magazine, raising hopes that Europe’s largest economy could steer itself away from recession and cooling worries over a global economic slowdown.

The Dow Jones Industrial Average rose 306.62 points, or 1.2%, to 25,886.01, the S&P 500 gained 41.09 points, or 1.44%, to 2,888.69 and the Nasdaq Composite added 129.38 points, or 1.67%, to 7,895.99.

Source : Reuters


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