Dow jumps 373 points as stimulus hopes blot out weak jobs data
- Date: 06-Aug-2020
- Source: Markets Insider
- Sector:Financial Markets
- Country:Lebanon
Dow jumps 373 points as stimulus hopes blot out weak jobs data
US stocks climbed on Wednesday as investors maintained optimism for a bipartisan stimulus measure.
Democrats and the Trump administration hope to reach a deal by the end of the week but remain split on issues including expanded unemployment benefits and aid for state and local governments.
Fears of rising US-China tensions cooled after reports that senior officials from both countries will meet on August 15 to discuss their "phase one" trade deal.
Still, ADP jobs data offered a bleak look at the US economic recovery. The country added 167,000 private payrolls in July, well below the 1.2 million estimate from economists surveyed by Bloomberg.
Watch major indexes update live here.
US equities rose on Wednesday as optimism around passing a second stimulus bill outweighed dismal jobs data.
The S&P 500 landed within 2% of a record high.
Select Sector 
Select Country 
