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John Wang
April 10 08:45

US stocks boosted by the Federal Reserve

US stocks traded high on April 9
US stocks traded high on April 9. The rally has been caused by the enhancement of the monetary safety net by the Federal Reserve, as well as OPEC+ negotiations. 
The optimism of the investors has been reinforced by the news from Steve Munchin. US Treasury Secretary has stated, that the national economy can be reopened in May. Federal Reserve Chairman Jerome Powell has stated that US can undergo a “robust” recovery in the second half of the year.
By 1530 GMT, the Dow Jones Industrial Average has gone up by 364 points - 1.6%. The S&P 500 has gone up by 1.5%, while Nasdaq Composite has risen up by 0.4%.
The Fed's measures assigned $2.3 trillion to the support of the US economy. The pandemic has also sent millions of the Americans into unemployment. According to the Labor Department’s statistics, 6.61 million workers filed jobless claims last week. Earlier forecasts have awaited only 5.25 million new claims. 
Federal Reserve is also planning to acquire high-yield corporate debt via traded funds. The major part of the program will still be devoted to acquiring investment-grade loans.
The decision will let the Reserve support impacted large enterprises like Ford and Carnival, that have been impacted by the pandemic.