From TeleTrader News: “Dow jumps over 750 pts in premarket trade“:
Shares on Wall Street moved in positive territory in premarket trade on Friday as investors keep watch over coronavirus developments. The Trump administration proposed an $850 billion stimulus package to stabilize the economy, which some claim has already entered a recession.
European equities also surged at the start of the session as central banks moved to ease monetary policy further amid the global pandemic. According to the latest data, over 246,000 worldwide contracted COVID-19.
The Dow Jones climbed 759 points at 4:25 am ET, while the S&P 500 advanced 3.26%. At the same time, the Nasdaq 100 surged 4.93%.
My take: We’ve seen this show before.