World News | US Stocks Open Higher, Following Global Markets Upward
Get latest articles and stories on World at LatestLY. Stocks rose in early trading Tuesday, as investors continue to close out positions for the New Year and after President Donald Trump signed into law the USD 900 billion coronavirus economic stimulus package.
New York, Dec 29 (AP) Stocks rose in early trading Tuesday, as investors continue to close out positions for the New Year and after President Donald Trump signed into law the USD 900 billion coronavirus economic stimulus package.
Wall Street set fresh records on Monday after Trump opted not to veto the bill, helping to stanch uncertainty as governments reimpose pandemic-fighting travel and business curbs weighing on global economic activity.
Investors and economists have been pushing for the support for months. It combines USD 900 billion in COVID-19 aid with a USD 1.4 trillion spending bill and reams of other legislation on taxes, energy, education and health care.
The hope is that the measures will help tide the economy over until vaccinations can bring surging infections under control, allowing precautions to be relaxed and life to begin returning to normal.
The only other pending set of business from Washington is whether Senate Republicans will pass President Trump's push to get USD 2,000 stimulus checks to Americans instead of the current USD 600.
The S&P 500 was up 0.4 per cent, with health care, real estate and energy stocks leading the way. The Dow Jones Industrial Average was up 80 points, or 0.3 per cent, to 30,485 and the Nasdaq was up 0.2 per cent.
Trading has been thin as a tumultuous 2020 draws to a close. The market will be closed for New Year's Day Friday.
In Tokyo, the Nikkei 225 jumped 2.7 per cent to 27,568.15, the first time it has traded above 27,000 since August 1990, according to FactSet. The market hit its all-time peak close of 38,915.87 on December 29, 1989.
The benchmark was buoyed by strong gains in heavyweights like Mitsubishi Heavy Industries, which surged 4.6 per cent, apparel maker Fast Retailing, also up 4.6 per cent, and technology and energy company SoftBank, which gained 4.2 per cent. (AP)
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