NEW YORK: Wall Street stocks gained more than three per cent on Monday as markets weighed a dire near-term economic outlook against unprecedented federal spending and central bank interventions.AdvertisementThe broad-based S&P 500 gained 85.19 points to close at 2,626.65, while the tech-rich Nasdaq Composite Index advanced 271.77 points to 7,774.15.
"Investors might be entering the 'acceptance' phase of the crisis," said JJ Kinahan, chief market strategist at TD Ameritrade. Still, many analysts expect markets to be rocky for the foreseeable future as more terrible economic data surfaces. "The risks remain overwhelmingly on the downside and further downgrades are almost assured," IHS said.
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