Why CVS Health Stock Soared Today
Shares of CVS Health (NYSE: CVS) were soaring 11.8% higher as of 3 p.m. EDT on Tuesday after sinking yesterday. The big jump came on reports that the Trump administration is considering a stimulus package totaling close to $1 trillion to help boost the economy in the midst of the coronavirus pandemic.
Investors are viewing the prospects of a major federal action to help individuals and businesses recover from the impact of the coronavirus outbreak as very good news. Any program that helps reduce unemployment caused by the COVID-19 worries and puts more money in the hands of consumers would likely provide some benefit to retailers, including CVS Health.
Image source: CVS Health.
Source Fool.com
