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Coronavirus: U.S. stocks extend rally, TSX dips in early trading

Coronavirus outbreak: Kudlow hails ‘single-largest Main Street assistance program in the history of the United States’
Speaking to reporters in the White House on Tuesday, Director of the National Economic Council Larry Kudlow hailed the Trump Administration's $6 trillion USD stimulus package, calling it the "single-largest Main Street assistance program in the history of the United States."

Wall Street on Wednesday extended its massive bounce from the previous session as Washington reached a deal for a $2 trillion stimulus package to help businesses and millions of Americans hit by the economic fallout of the coronavirus pandemic.

The S&P 500 opened higher by 10.44 points, or 0.43 per cent, at 2,457.77. The Dow Jones Industrial Average rose 345.43 points, or 1.67 per cent, at the open to 21,050.34, while the Nasdaq Composite gained 3.50 points, or 0.05 per cent, to 7,421.36 at the opening bell.

READ MORE: Dow surges over 11% in strongest one-day gain since 1933 as U.S. inches closer to deal

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In Toronto, however, the benchmark S&P/TSX composite index was down slightly, by 40.11 points to 12,530.97, at 9:50 a.m. ET.

The Canadian dollar was trading at 69.84 cents US compared to an average of 69.15 cents US on Tuesday.

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— With files from the Canadian Press