The US Stock Markets Started New Trading Week With Gains on Monday
The US stock markets started the new trading week with gains on Monday. Investors on Wall Street expect the additional $ 1.9 trillion in corona support pledged by President Joe Biden to be on the way.
The market is also responding to figures on the number of virus infections in the United States. This shows that the rate at which the virus spreads appears to be slowing down somewhat.
The US Senate and House of Representatives already voted Friday on a budget resolution that will allow Democrats to get the new bailout package through Congress without Republican support. It will probably take a few more weeks for the final bill to be drafted.
According to Biden, the support is badly needed to help the US economy through the crisis.
Shortly after the opening bell, the Dow Jones index recorded 0.7 percent higher at 31,350 points. The broader S&P 500 gained 0.5 percent to 3905 points, and tech exchange Nasdaq gained 0.6 percent to 13,941 points. On Friday, the indicators also entered the weekend with profits.
Apple lost more than 1 percent of its stock market value in its first trading minutes. Investors were disappointed with South Korean automakers Hyundai and Kia’s statement that no talks are being held with the American technology group about a possible collaboration.
In recent weeks there have been rumours that the automakers would work with Apple to develop self-driving electric cars.