Stock market live updates: Dow soars 2,100 points, biggest jump in 80 years, stimulus close

All eyes are on Congress to pass a much-needed stimulus bill to rescue the economy from the coronavirus damage. The stock market staged a huge turnaround with the Dow posting its best day since 1933. Here’s what happened:

Stocks closed on their session highs on Tuesday as investors grew optimistic about a sweeping fiscal stimulus deal to prop up the economy hurt by the coronavirus pandemic. The Dow soared 2,100 points, or 11.2%, to post its best day since March 1933. It’s also the largest point gain for the 30-stock benchmark ever. The S&P 500 and the Nasdaq jumped 9.3% and 8.1%, respectively. — Li

With just 20 minutes of trading left, stocks accelerated gains with the Dow jumping 1,940 points, or 10.44%. The S&P 500 and Nasdaq are up 8.8% and 7.6%, respectively. – Stevens

The iShares U.S. Home Construction ETF (ITB) jumped more than 14%, putting it on track for its best day since 2008. New home sales came in at 765,000 for February, which topped analysts expectations of 743,000, according to estimates from FactSet. The January number was also revised to 800,000 from 764,000. Stocks leading the ETF higher included KB Home and Toll Brothers, each of which gained 32%. – Stevens

With roughly one hour left in the trading session, the Dow was up 1,700 points, or 9.1%, as investors cheered the apparent progress made in Washington over potential fiscal stimulus amid the coronavirus outbreak. Those gains lifted the Dow off of its lowest levels since late 2016. —Imbert

Source: https://www.cnbc.com/2020/03/24/stock-market-live-updates-dow-futures-up-900-limit-up-hope-for-a-stimulus-deal.html

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