Dow jumps 300 pts premarket as US eyes rapid recovery

Wednesday, 20. May 2020 11:54

Equities on Wall Street extended gains in premarket trading on Wednesday with the Dow Jones soaring over 300 index points as the country looks to quickly bounce back from the coronavirus crisis.

The reopening of the US economy is going faster than expected, according to White House economic advisor Kevin Hassett, who expects "pretty strong" second half of the year. Meanwhile, United States President Donald Trump signed an executive order to help the country's labor market to curb the coronavirus impact and ensure job growth.

The Dow surged 1.23% at 5:56 am ET, while the Nasdaq 100 and the S&P 500 went up by 1.17% and 1.13% at the same time, respectively.

The euro added 0.25% at 5:59 am ET, changing hands for $1.09505.

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Breaking the News / GA