Dow jumps 400 points amid hopes for economy reopening
Xinhua
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People wearing face masks walk past a bank electronic board showing the Hong Kong share index Tuesday, May 5, 2020. (Photo: AP)

NEW YORK, May 5 (Xinhua) -- US stocks traded on an upbeat note Tuesday as investors weighed the possibility of normalizing economic activities.

At midday, the Dow Jones Industrial Average surged 402.33 points, or 1.69 percent, to 24,152.09. The S&P 500 was up 53.71 points, or 1.89 percent, to 2,896.45. The Nasdaq Composite Index increased 181.02 points, or 2.08 percent, to 8,891.73.

All the 11 primary S&P 500 sectors climbed, with energy and health care up 2.8 percent and 2.5 percent, respectively, in midday trading, outpacing the rest.

The rally came after some US states started to ease lockdown restrictions amid fears of a re-acceleration in virus cases.

Market sentiment was also boosted by solid gains in oil prices.

US crude futures are on track for a five-day winning streak, with the West Texas Intermediate for June delivery jumping about 18 percent to trade above 24 US dollars a barrel.