US stocks raised following Donald Trump decision on relief package
The US stocks raised in the final week of the year 2020 with huge profits. Besides, the maximum of US indices hit high records on the same day.
In S&P 500 pack, technology, communication services, and consumer discretionary stocks traded in the green. However, the S&P 500 gained nearly 0.90%. On the other hand, restaurants, airlines, and cruise operators stocks stood as the biggest gainers even in the hardest days of the pandemic. Treasury yields were mixed.
US President Donald Trump decided to sign a $900 billion coronavirus economic stimulus relief package. A source said that the rally in U.S indices happened after the decision of Donald Trump regarding the relief package. Though the package includes $1.04 trillion to government agencies. Deflecting a government closure that in any case would have begun Tuesday.
As for the news, really, it was a great thing for Wall Street. The stock investors felt that Santa Claus ought paid a belated visit to Wall Street to spread some good. The maximum of U.S indices hits high record levels even the stimulus bill had been implied for several weeks.
US Stocks:
According to the reports, the S&P 500 index gained nearly 32.30 points at the 3,735.36 level. Besides, the Dow Jones Industrial Average raised 204.10 points at 30,403.97 with a gain of 0.70%. Besides, the Nasdaq composite increased 94.69 points with a 0.70% gain at 12,899.42.
On the other hand, smaller companies in Russell 2000 index dropped nearly 7.70 points at the 1,996.25 level with a loss of 0.04%.
On Monday, the U.S dollar prevailed under load with the euro ending the day in New York around 1.2205. Moreover, the British pound demand at 1.3442. Besides, the Swiss franc was a tad weaker at 0.8898 and the Japanese yen at 103.86.
Furthermore, there has been a bit of change in the Canadian dollar at 1.2845. At the end of the day, the Australian dollar has gained more at 0.7622 from its previous close of 0.7576. However, the New Zealand dollar remained traded at 0.7099. It lasted a good bid for this dollar.
On Monday, the UK and European equities were traded higher as the post-Brexit agreement. During the dame day, the German Dax stock traded with a gain of 1.49%. Besides, the CAC 40 in Paris closed at a 1.20% high. London’s FTSE 100 gained 0.10%.
On the other hand, the Hang Seng index in Hong Kong decreased nearly 71.93 points with a low of 0.27% at the 26,314.63 level. Besides, the China Enterprises Index dropped 1.10% to the 10,311.48 level.
