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France Media Agency
At 9:45 a.m., the Dow Jones was gaining 0.58%, the tech-colored NASDAQ was up 0.72% and the S&P 500 was up 0.69%.
At the previous close on Christmas Eve, the Dow Jones Industrial Average had risen 0.23% to 30,99.87 points. The NASDAQ gained 0.26% to 12,804.73 points and the S&P 500 expanded index appreciated 0.35% to 3703.06 points.
“The stock market is in celebration mode this morning, with a really bullish trend, giving more importance than it is to news that was expected,” said Patrick O’Hare of Briefing.
“The reason for this excitement? President Trump signed the Fiscal Stimulus and Government Financing Bill, ”adds the analyst. “What pleases the market is that the economy will start to feel the benefits of this law soon, rather than later, at an unspecified date.”
After a week of procrastination, Donald Trump finally ratified, in a dramatic turn on Sunday evening, a bipartite aid plan of 900 billion dollars which extends federal aid paid to the unemployed and grants guaranteed loans to businesses.
The Republican President also approved in the wake of a bill to finance the federal state, making it possible to avoid the closure of public services on Tuesday (“shutdown”).
“The adoption of this law will avoid a” shutdown “of the administration, will extend the support measures against the coronavirus and include a new direct payment for the Americans,” said Schwab analysts.
Few indicators were expected for the last stock market week of the year, ending Thursday with new requests for weekly unemployment benefits.
Among the actions of the day, Moderna, whose vaccine began to be administered in the United States last week, lost 3.89%. The stocks of the airlines regained strength such as United Airlines (+ 2.17%) and American Airlines (+ 4.09%). Very volatile, the action of Fireeye, the computer security group victim of a hack in early December, gained + 4.21%.
In the bond market, the 10-year yield on Treasuries rose to 0.9531% from 0.9231% on Thursday.
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