Stocks in US, Israel leap amid signs of hope crisis may be receding

Stocks in the US are leaping after some of the hardest-hit areas offered sparks of hope that the worst of the coronavirus outbreak may be on the horizon.

US stocks have climbed 4.5% in morning trading, following up on gains that were nearly as big in Europe and Asia.

Two runners jog past the Oculus and World Trade Center transit hub, and One World Trade, Sunday, April 5, 2020, in New York’s Lower Manhattan. (AP Photo/Kathy Willens)

The S&P 500 was up 4.5%, as of 10:30 a.m. Eastern time. It’s already on pace to erase all its losses from the prior week, when the government reported a record number of layoffs sweeping the economy. The Dow Jones Industrial Average rose 964 points, or 4.6%, to 22,017, and the Nasdaq was up 4.5%.

In Israel, the benchmark TA-35 and TA-125 indexes both gained around 5% Monday.

— with AP