Wall Street jumps at open after Fed’s massive stimulus, jobless claims data

FILE PHOTO: A man crosses a nearly deserted Nassau Street in front of the New York Stock Exchange (NYSE) in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 3, 2020. REUTERS/Mike Segar

(Reuters) – Wall Street jumped at the open on Thursday, after the Federal Reserve rolled out a $2.3 trillion program to bolster local governments and businesses, while the initial jobless claims slipped to 6.6 million last week from an upwardly revised 6.87 million the prior week.

The Dow Jones Industrial Average .DJI rose 257.09 points, or 1.10%, at the open to 23,690.66.

The S&P 500 .SPX opened higher by 27.01 points, or 0.98%, at 2,776.99. The Nasdaq Composite .IXIC gained 78.11 points, or 0.97%, to 8,169.01 at the opening bell.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur

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