US stocks surge on stimulus hopes
The Federal Reserve launched its Main Street Liquidity Program Monday, which will help small and medium-sized businesses
US stocks opened sharply higher on Tuesday, boosted by hopes for more fiscal and monetary stimulus, as well as a rebound in the economy.
US retail sales soared in May, beating economists' expectations and shoring up hopes that the reopening of the economy could bring the bounce-back investors had hoped for, reports the CNN.
The Federal Reserve launched its Main Street Liquidity Program Monday, which will help small and medium-sized businesses.
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The central bank also announced it would begin to buy corporate bonds. Meanwhile, investors are growing hopeful that the Trump administration could unveil an infrastructure spending plan.
The Dow opened 818 points, or 3.2 percent, higher, S&P 500 climbed 2.7 percent, Nasdaq Composite opened up at 2.3 percent.
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