Shares of amusement park operators went on a wild ride Thursday, with the stocks of Cedar Fair (NYSE: FUN) and Six Flags (NYSE: SIX) up 13.6% and 19.9%, respectively, as of 1:30 p.m. EDT.
As we've come to expect these days, the big macroeconomic driver behind today's stock movements comes from someone in Washington, in this case, Federal Reserve Chairman Jerome Powell. He predicted today that because of "forceful measures to control the spread of the virus" taken by government, combined with a $2.2 trillion stimulus package and interest rate cuts to near zero, the U.S. economy is on track to resume "robust" economic growth just as soon as the coronavirus pandemic is brought under control, and the recession ends.
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