<ol><li>Stocks Are Rising as Economic News Worsens  <font color="#6f6f6f">The New York Times</font></li><li>Here are the stock market’s biggest winners on Wednesday as investors see new hope  <font color="#6f6f6f">MarketWatch</font></li><li>Stock market live Wednesday: Stocks jump on drug hope, best month since '74?, tech positive for year  <font color="#6f6f6f">CNBC</font></li><li>Stocks rise on hopes for progress in fighting coronavirus  <font color="#6f6f6f">OregonLive</font></li><li>Stocks charge higher on hopes for progress in fighting COVID-19  <font color="#6f6f6f">Press Herald</font></li><li><strong>View Full Coverage on Google News</strong></li></ol>

The government said on Wednesday that the U.S. economy had suffered its worst contraction since the last recession. The head of the Federal Reserve later said he didn’t know how bad this downturn would be, or how long it would last.

S&P 500 stock index had risen 2.7 percent.

That’s been the pattern lately. The drumbeat of grim news — one million known coronavirus cases in the United States, businesses are collapsing, the unemployment rate could reach 16 percent — has done little to deter stocks’ upward march.

Latest Updates: Economy

  • Asian markets climb after Wall Street’s rally.
  • Millions more jobless claims are expected to be reported on Thursday.
  • Norway to cut oil production as demand craters.