Stocks end higher as stimulus hopes persist

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U.S. stocks closed sharply higher Wednesday after President Donald Trump appeared to backtrack on his decision to cut off discussions over coronavirus economic relief. The Dow Jones Industrial Average added about 530 points, 1.9%, to close near 28,303, while the S&P 500 closed near 3,419, up 58 points or 1.7%. The Nasdaq Composite jumped 210 points, 1.9%, to end near 11,365. There was no progress toward a package on Wednesday, even as minutes from the Federal Reserve’s September policy meeting showed many policymakers had penciled in another stimulus package before the end of this year. Shares of DraftKings Inc. lost more than 6% Wednesday after the online gambling company announced it would float additional shares.
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