April 29, 2020 / 8:06 PM / a month ago

US STOCKS SNAPSHOT-Wall St surges on promising coronavirus drug

April 29 (Reuters) - U.S. stocks surged on Wednesday as expectations of an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average rose 527.85 points, or 2.19%, to 24,629.4, the S&P 500 gained 76.17 points, or 2.66%, to 2,939.56 and the Nasdaq Composite added 306.98 points, or 3.57%, to 8,914.71. (Reporting by Noel Randewich; Editing by Sandra Maler)

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