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Wall Street surged on Wednesday, building on its biggest one-day rally since the Great Depression a day earlier, as investors continued their bullish bets on stocks. The White House and Congress reached a deal on a $2 trillion stimulus package to support the economy through the Covid-19 pandemic.
The Dow jumped 5.76%, or 1,173 points, the S&P 500 gained 4.55% and the Nasdaq Composite added 2.83%.
The coronavirus stimulus package, which could include one-time checks worth $1,200 to Americans, tax breaks and bailouts to industries hurt by the impact from the virus such as aviation and hospitality, is expected to clear the Senate in a vote later today, with a vote in the House reportedly slated for Thursday.
Companies that take a loan through the stimulus package will be restricted from buying back their stock until one year after the loan is repaid and also will not be allowed to pay any dividends if their loan is outstanding, CNBC reported
What is Stimulus Package ?
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What is Stimulus Package ?
Details here --> Visit the link
Source : Investing