Stocks are pushing higher in Wednesday morning trading on Wall Street as the stock market’s rally carries into a fourth day.
The S&P 500 added 0.8% to gains made in earlier days on optimism that lifting lockdowns around the world would allow the economy to climb out of its current hole. Treasury yields also rose in a sign of improved confidence after reports suggested that although the U.S. economy is still getting pummeled, it may not be as bad as economists had feared.
Companies that would most benefit from a growing economy led the market Wednesday, continuing a recent trend as hopes rise that the economy and life in general can return closer to normal as lockdowns lift. The S&P 500 is on track for its fourth straight gain. If it holds, it will mark its longest winning streak since early February, before the market sold off by nearly 34% on worries that the coronavirus outbreak would send the economy into its sharpest recession in decades.
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