US Stocks Climb Amid Talk Of Huge Govt Stimulus

Wall Street stocks rose early on Tuesday in choppy trading as markets weighed talk of potentially massive US government stimulus a day after a deep selloff due to the coronavirus.

US media reported that the White House is seeking a US$850 billion emergency stimulus package, underscoring the severity of a crisis that has plunged Wall Street into a bear market.

About 20 minutes into trading, the Dow Jones stood at 20,210, up 0.1 percent, a day after falling nearly 3,000 points.

The S&P 500 gained 1.0 percent to 2,409, while the Nasdaq also advanced 0.7 percent to 7,082.

The plan being developed by Donald Trump's administration is expected to include a payroll tax cut and US$50 billion in aid to troubled US airlines hit hard by the near-total shutdown in the travel industry, The Washington Post reported.

That sum "is a long, long way from the initial US$8.3 billion emergency relief bill and underscores how quickly the coronavirus impact has ramped up from a public health, public policy and economic response standpoint," said Briefing.com analyst Patrick O'Hare.

Boeing continued to weigh down the Dow, falling 7.4 percent after S&P downgraded its debt rating and the company confirmed it was in talks with Washington policymakers about boosting liquidity for the aviation business. (AFP)