Change in Banking Rule Gives Boost to Wall Street

Dow rises nearly 300 points
By Newser Editors,  Newser Staff
Posted Jun 25, 2020 3:11 PM CDT

(Newser) – Wednesday rough selloff didn't continue Thursday on Wall Street. The Dow rose 299 points to 25,745, the S&P 500 rose 33 points to 3,083, and the Nasdaq rose 107 points to 10,017. All the gains were just above 1%. CNBC attributes much of the afternoon lift to federal regulators' decision to loosen the Volcker Rule, a move that will make it easier for banks to make investments in venture capital and hedge funds. The change could free up billions of dollars of capital within the banking industry, which pleased investors, per the AP. The day's rise comes despite more discouraging news about the push to reopen the economy. (Read more stock market stories.)

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