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Wall Street rallies as job losses stir talk of more stimulus

Agencies
New York
Wall Street surged on Thursday as record weekly jobless claims came in below investors’ worst fears, making a case for more aggressive stimulus to aid businesses and families wrecked by the economic fallout of the coronavirus pandemic.
Expectations are high for the US House of Representatives to pass a $2 trillion stimulus bill to support distressed industries, including airlines, after the Senate cleared the proposal.
The S&P 500 has now clawed back nearly $3 trillion in market value since its close on Monday and is on pace for its third straight daily increase for the first time since the selloff began in late February.
The Dow Jones Industrial Average was up 1,164.45 points, or 5.49 percent, at 22,365 points, the S&P 500 was up 117.13 points, or 4.73 percent, at 2,592.69 points and the Nasdaq Composite was up 292.52 points, or 3.96 percent at 7,676.82 points.

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