Wall Street kicks off 2020 at record levels on China stimulus, trade hopes

Topics Wall Street | US-China


US stocks extended their rally into the new year, with all three major indexes hitting record highs on Thursday, as fresh stimulus from Beijing to prop up its economy added to optimism fueled by easing trade tensions and an improving global outlook.

China's central bank said on Wednesday it would cut the amount of cash that all banks must hold as reserves, the eighth such cut since early 2018, injecting fresh stimulus into the economy, while also boosting global markets. The benchmark S&P 500 has hit intraday record high in 11.....

This article is no longer available in our repository.

There could be multiple reasons for this.