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U.S. Stocks Rebound With Health Care Adding Boost: Markets Wrap

  • European shares join in advance after Asian equities dipped
  • West Texas crude falls on outlook for collapse in demand
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President Donald Trump says his administration expects the peak of deaths in the U.S. coronavirus outbreak to be reached in about two weeks.Source: Bloomberg
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U.S. stocks rallied as investors saw glimmers of optimism in efforts to deliver rapid testing for the new coronavirus. The dollar rose.

The S&P 500 Index climbed for the fourth time in five days, rising 17% over the last week, with health-care shares among the biggest gainers. The Nasdaq 100 advanced nearly 4%, leading the rebound among benchmarks from Friday’s losses. Abbott Laboratories surged after unveiling a five-minute Covid-19 test and Johnson & Johnson announced a vaccine candidate for the virus.