Dow jumps more than 2%, posts first back-to-back gain since February; European stocks close higher as US reaches stimulus deal; NIS gained 7.4% driving BELEX15 2.1% higher

The Dow Jones Industrial Average jumped more than 13% in two days as the White House and congressional leaders said they had agreed to a massive stimulus bill to combat the economic slowdown from the coronavirus pandemic. The 30-stock average climbed more than 2%, or 495.64 points, to 21,200.55 on Wednesday. The S&P 500 was up by 1.1% and closed at 2,475.56. Wednesday marked the first time since February the Dow and S&P 500 closed higher in back-to-back sessions. Boeing shares rallied 24% to lead the Dow higher. A 9.2% gain in Nike also boosted the Dow.

The Nasdaq Composite dipped 0.5%, however, to 7,384.30 as Facebook, Amazon Apple, Netflix and Google-parent Alphabet all closed lower.

European markets closed higher Wednesday, as investors remained attuned to the coronavirus pandemic. The pan-European Stoxx 600 provisionally closed up more than 2.5%, with oil and gas stocks surging over 6% to lead gains while chemicals declined by more than 0.5%.

British pest control group Rentokil tumbled 18% after withdrawing its 2020 guidance, suspending its dividend and announcing cost-cutting plans.

BELEX15 added additional 2.1%, once again due to continued recovery at NIS, since it gained solid 7.4%. Belgrade Airport was the most traded name again, with RSD 3.7m in volume, while NIS delivered RSD 3.1m of turnover. Alfa Plam was up 6%, even though it has solid exposure to Italian market. Serbian President Aleksandar Vucic has announced that the state would secure substantial help to the economy, that a serious set of measures are being prepared and that several billion euros will be invested in the private sector.

Source: CNBC, Ilirika