(31 December 2020)DAILY MARKET BRIEF 1:Wall Street Bounces Back
<p>US equities moved higher on Wednesday, after retreating during the previous session. The upbeat mood prices in investors’ hope that 2021 will be a much better year for the economy, which may be pushed by COVID vaccine rollouts and more stimulus. Expectations for bigger direct payments faded after Senate Majority Leader Mitch McConnell turned down a quick vote to approve President Donald Trump’s request to boost relief checks from $600 to $2,000. Still, the massive $2.3 trillion stimulus package signed by Trump in the weekend is enough to support the bullish stance. The Dow Jones rose 0.24% to update the record high. The S&P 500 added 0.13%, and Nasdaq rose 0.15%. Eight out of 11 S&P sectors moved higher, with energy and materials being the best performers. Trading volumes are much lower during the holidays. The S&P 500 has gained about 15.5% year-to-date, driven by massive stimulus implemented by the government and cash injections from the Federal Reserve. In the final quar</p>
Leave a Comment