Wall Street Rallies for Third day as Brexit Bruises Fade

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Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's USD 23 billion bid for Hershey. 

 

The major US indexes each closed up more than 1 percent, tallying their best three-day run in four months. They have erased the bulk of their losses in the wake of Britain's shock vote a week ago to leave the European Union that had set off the worst two-day decline for Wall Street in 10 months. 

 

In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain's economy over the summer. 

 

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