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Investing.com — U.S. stock markets opened higher again on Wednesday, on fresh hopes that the worst of the Covid-19 pandemic will soon be past, despite fresh evidence of the ongoing damage it’s causing to the U.S. and global economy.
At 9:35 AM ET (1335 GMT) the Dow Jones Industrial Average was up 240 points, or 1.1% from Tuesday’s close at 22,895, putting it on course for its highest close in over three weeks. The S&P 500 was up 0.9%, while the NASDAQ Composite was up 0.2%.
All three indices had surrendered sizeable intraday gains in late trading on Tuesday.
Despite further increases in the daily death toll, analysts at Pantheon Macroeconomics said the eighth straight day of declines in the rate of new infection growth was a sign that the “curve is bending.”
“The U.S. numbers likely will rise in absolute terms until the final week of April, though the rate of growth will slow sooner,” Pantheon chief economist Ian Shepherdson said in a daily note.
