4/29, 10:00 PM (Source: TeleTrader)
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Wall Street closes higher as Fed pledges support

Trading on Wall Street finished with strong gains on Wednesday as the Federal Reserve reaffirmed its commitment to supporting the economy with the full range of its tools amid the coronavirus pandemic.

Stocks were also boosted by news that the Gilead Sciences antiviral drug remdesivir has shown promising results as a treatment for COVID-19 in a clinical trial.

The Dow Jones was up 532 points at the end of the session. Among the top performers were American Express, Visa and Boeing. The S&P 500 jumped 2.66% at the close with Norwegian Cruise Line rallying over 25% to the top of the chart. The Nasdaq 100 surged 3.52% as United Airlines led the gains.

Breaking the News / JC