The New York Stock Exchange closed overnight (8 Jan) as investors raved about the release of additional stimulus measures after the new US President Joe Biden said. His stimulus will be worth several trillions of dollars. Which the market has rebounded to respond to such comments After the initial decline due to the disclosure of lower non-agricultural employment numbers in the opposite direction.
The Dow Jones Industrial Average closed 31,097.97, up 56.84 or + 0.18%, the S & P500 closed at 3,824.68, up 20.89 points, or + 0.55%, and the Nasdaq closed at 13,201.98, up 134.50 or + 1.03% this week. The Dow rose 1.61%, the S & P500 gained 1.83% and the Nasdaq rose 2.43%, with the Dow and Nasdaq rising for the fourth straight week.
US stock markets rose. This is driven by positive data on the novel coronavirus vaccine. And with expectations that the United States will introduce more fiscal stimulus and infrastructure spending under the new administration of President Joe Biden, he said. Such positive factors helped support the S & P500 index to break through 3,800 for the first time.
Biden told reporters that His administration’s stimulus would consist of unemployment insurance. And the moratorium on rent The measure will be announced next Thursday.
“Is it necessary to spend money now? The answer is yes, and it will be a multi-trillion dollar measure,” Biden said.
The market also responded to news reports that Pfizer has published research conducted with scientists from the University of Texas. Vaccine against COVID-19 That the company developed in conjunction with bio-entech It appears to be effective in dealing with the COVID-19 virus. Mutated species in England and South Africa
Moreover, market participants were not interested in reporting that news. House Democrats plan to submit a motion to remove President Donald. Trump is out of office ahead of his termination on Monday. After Trump supporters stormed Congress on Wednesday.
Seven of the 11 shares of the S & P500 index closed up, with the luxury segment up 1.8% and the materials sector down the most 0.51%.
Tesla shares jumped 7.8%, bringing the market value of Tesla shares up to more than $ 80 billion for the first time. It is the largest percentage increase in the S & P500 index.
China’s Baidu shares, listed on the U.S. stock market, jumped 15.6 percent, fueled by Baidu’s plan to set up a company to produce smart electric vehicles. Baidu shares the biggest jump on the Nasdaq Index.
For important economic data that was released last night. The US Department of Labor reported. The number of non-farm payrolls fell by 140,000 in December. Contrary to what analysts had predicted a 50,000 increase, the unemployment rate was flat at 6.7% in December, while analysts had expected a rise of 6.8%.
Analysts think that The weak employment numbers in December will be a factor in pushing the new federal government, led by Joe Biden, to accelerate a major stimulus package to mitigate the effects of COVID-19.
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