By Yasin Ebrahim
Investing.com – Dow soared to record highs on Monday as President Donald Trump approved a $ 900 billion stimulus package, evading government closures and giving a coveted boost to economic recovery. ..
It increased by 0.64%, or 193 points. Was up 0.90% and up 0.86%. All three major averages hit the highest daytime records.
Trump threatened to delay signing the bailout package after Congress demanded that Congress amend the bill to raise direct payments from $ 600 to $ 2,000 a week to help unemployed Americans.
“I’ve signed this bill to restore unemployment benefits, stop evictions, provide rental assistance, add PPP funding, return airline workers to work, add significant vaccine distribution, and more. “Trump said.
The House of Representatives will vote on a bill to raise direct payments to $ 2,000 on Monday, but even if it passes, it is unlikely to succeed in a Republican-controlled Senate.
The stimulus is expected to mitigate the impact of national regulation on economic recovery in an effort to contain the spread of the virus.
“And why I’m concerned and my public health colleagues are also concerned about Christmas, New Year, the surge, and, as I explained, you might look very closely at the postseason. It soars during the soar, because it’s really very annoying to see the slopes of the incidents we experienced from late fall to early winter, “said one of the top infectious disease experts in the United States. Dr. Anthony Fauci told CNN on Sunday.
Further advances in the Covid-19 vaccine, as well as stimulants, have heightened sentiment towards risk assets.
The AstraZeneca (NASDAQ :) vaccine will be approved by the UK health authorities later this week. Novavax (NASDAQ :) Vaccine Candidates are in late clinical trials in the United States and Mexico.
The travel sector was boosted by positive stimulus and vaccine news, with inventories of airlines, cruise ships and casinos increasing.
American Airlines (NASDAQ :) rose 3%, Las Vegas Sands (NYSE :) rose 2% and Norwegian Cruise Line (NYSE :) rose 5%
Tech was ahead as five fab shares continued to rise.
Transactions were high on Amazon.com (NASDAQ :), Facebook (NASDAQ :), Google’s parent companies Alphabet (NASDAQ :), Microsoft (NASDAQ :) and Apple (NASDAQ :), with the latter up 3%.
Chinese tech giant Alibaba (NYSE :) Allegations of monopoly practices Reduced losses and positively after raising share buyback program from $ 6 billion to $ 10 billion in ongoing investigations by Chinese regulators into companies I turned around.
In other news, JP Morgan (NYSE :) will acquire CxLoyalty’s credit card benefits and travel business to take advantage of the expected recovery in travel demand next year, CNBC reported.
Dow soars to record highs as Trump signs a stimulus bill to boost recovery by Investing.com
https://www.investing.com/news/stock-market-news/dow-soars-to-record-high-as-trump-signs-stimulus-bill-to-boost-recovery-2376389 Dow soars to record highs as Trump signs a stimulus bill to boost recovery by Investing.com