Business

US stocks rally despite record unemployment claims

March 27, 2020 11:51 am

The normally-busy Times Square is almost deserted as New Yorkers stay in their homes

Top US share indexes have jumped for a third day in a row as investors hope a giant government relief package will blunt the economic blow from the coronavirus.

The Dow Jones and S&P 500 both climbed more than 6%, capping their best three-day streaks since the Great Depression.

The Nasdaq ended higher for a second day, up 5.6%.

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The rise came despite data showing a record 3.28 million Americans filed for unemployment last week.

Firms in line for aid, including Boeing, helped drive the gains.