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Stock market news live: Stock futures rally after $2 trillion stimulus deal reached

Stock futures rallied on Wednesday after the White House and the Senate announced it reached a deal on a $2 trillion stimulus package designed to combat effects of the coronavirus.

Futures contracts on the S&P 500 and the Nasdaq were each up 0.8% at around 4 a.m. ET. Dow futures were up 1.9%, boosted by Nike (NKE) shares which surged after the company announced better-than-expected quarterly results.

The damage — both economic and political — from COVID-19 has stoked a widening debate over how quickly the U.S. can return to a semblance of normalcy. With his re-election chances likely to be defined by a recovery from the crisis, President Donald Trump on Tuesday called for the economy to be restarted by April 12 — but market analysts have their doubts about that timetable.

Here's how long its taken stocks to go from record peaks to a correction.Here's how long its taken stocks to go from record peaks to a correction.
Here’s how long its taken stocks to go from record peaks to a correction.

4:20 a.m. ET Wednesday: Stock futures rally

Futures rallied after the White House and the Senate announced that they reached a deal on a $2 trillion stimulus bill.

  • S&P 500 futures (ES=F): 2,457.75, up 19.75 points or 0.8%

  • Dow futures (YM=F): 20,996.00, up 388.00 points or 0.8%

  • Nasdaq futures (NQ=F): 7,612.25, up 57.50 points or 1.9%

6:02 p.m. ET Tuesday: Stock futures ease

Futures for each of the three major indices dipped Tuesday evening as investors awaited news of a completed stimulus bill in the face of the escalating domestic coronavirus outbreak.

Here were the main moves in markets, as of 6:02 p.m. ET:

  • S&P 500 futures (ES=F): down 3.50 points to 2,434.50

  • Dow futures (YM=F): up 10 points to 20,618.00

  • Nasdaq futures (NQ=F): down 27.75 points to 7,531.00

6:02 p.m. ET Tuesday: Stock futures ease

Futures for each of the three major indices dipped Tuesday evening as investors awaited news of a completed stimulus bill in the face of the escalating domestic coronavirus outbreak.

Here were the main moves in markets, as of 6:02 p.m. ET:

  • S&P 500 futures (ES=F): down 3.50 points to 2,434.50

  • Dow futures (YM=F): up 10 points to 20,618.00

  • Nasdaq futures (NQ=F): down 27.75 points to 7,531.00

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