Wall Street wins by stimulus heap | Financial

The leading Dow Jones index was 1.1 percent higher at 27,052 points by 7.45 pm (Dutch time). The S&P 500 rose 1.2 percent to 3,277 points. Tech gauge Nasdaq thicknesses 1.5 percent to 10,792 points. Tech companies and retailers in particular were among the winners.

According to Mnuchin, a new support package is still needed. Negotiations about a new extensive package have so far led to nothing. Nancy Pelosi, Democratic Speaker of the House of Representatives, also expressed hope for another round of negotiations.

Jerome Powell, chief of central bank umbrella organization Federal Reserve echoed his earlier message. He probably mentioned that new support is necessary. His fellow St. Louis central bank executive James Bullard expects the US economy to be largely recovered by the end of the year. However, experts at Goldman Sachs cut their growth forecasts for the closing quarter of 2020.

Electric vehicle maker Nikola largely made up for an earlier loss of 20 percent. The share was still 6 percent lower. Investment advisor Wedbush came up with a recommendation cut for Nikola. Stock exchange regulator Securities and Exchange Commission (SEC) recently began an investigation into allegations of deception, fraud and deception at the company. Founder Trevor Milton previously stepped down as chairman of Nikola.

Tesla made up for a previous loss in its entirety and was up nearly 4 percent. The disappointment among investors by the comments of CEO Elon Musk that the production of new cheaper batteries and of the affordable car is still a few years away, was pushed aside by investors.

Spotify lost 2.4 percent. Daniel Ek, co-founder of the music streaming service, wants to invest 1 billion euros of his equity in start-ups.

The euro was worth USD 1.1676, compared to USD 1.1658 at the close of the stock exchanges in Europe. A barrel of American oil became 0.6 percent more expensive at $ 40.16. Brent oil cost 0.1 percent more at $ 41.83 a barrel.

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