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Wall Street jumps on stimulus hopes, positive economic data



Major Wall Street indices jumped on Wednesday, with the S&P 500 on course for its best gain in two quarters since 2009, when investor hopes for an imminent fiscal stimulus package were revived, while positive data suggested a US economic recovery was on track.

US stock indices are risingReuters:

House Speaker Nancy Pelosi and Secretary of State Steven Mnuchin expressed hope for a breakthrough in a COVID-19 aid package as the House stood ready to vote on a new $ 2.2 trillion Democratic coronavirus bill.

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1 major S&P indices were up. Healthcare, consumer judgment and the economy led to gains as data showed that US private employers increased employment in September, while contracts to buy previously owned homes rose to record highs last month.

The S&P 500 is heading for its first monthly decline since the coronavirus-led crash in March following a tumultuous September in which the benchmark index and the Nasdaq plummeted from record highs as investors dumped Wall Street favorites, including Apple Inc and Tesla Inc.

Moderna Inc received 3.2% after researchers said that the COVID-19 vaccine candidate produced virus-neutralizing antibodies in older adults at levels similar to those seen in younger adults in an early safety study.

The S&P index registered 13 new 52-week highs and no new lows, while Nasdaq registered 56 new highs and 23 new lows.

MacDailyNews Note: Apple rose $ 1.72 (+ 1.51%) to close at $ 115.81 and thanked another $ 0.49 (0.42%) in after-hours trading. Apple ended the session with a market value of $ 1.981 trillion.

The post Wall Street jumps on stimulus hopes, upbeat financial data first appeared on MacDailyNews.


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