Dow, S&P 500, Nasdaq End At Records, Extending Rally
"); jQuery("#212 h3").html("
"); });
2021-02-09 HKT 05:40
Wall Street stocks powered to fresh records on Monday, extending last week's surge on optimism that additional US fiscal stimulus is coming soon and an expected economic recovery.
All three major indices ended at all-time highs, with the Dow Jones gaining 0.8 percent to finish the session at 31,385.
The S&P 500 advanced 0.7 percent to close at 3,915, while the Nasdaq jumped 1.0 percent to 13,987.
Investors are betting that US President Joe Biden will succeed in winning approval for most of aspects of his US$1.9 trillion fiscal relief package, analysts said.
Over the weekend, Treasury Secretary Janet Yellen predicted the United States would get back to full employment next year if the package is enacted, but warned job gains would lag if Congress does not come through.
Investors also have been cheered by progress on coronavirus vaccines, with Johnson & Johnson last week filing for emergency authorisation of its Covid-19 vaccine with US health authorities.
Markets are eyeing improving corporate earnings following generally strong fourth-quarter results thus far. About 80 percent of S&P 500 companies that have reported have topped expectations for profits and revenue, according to Factset.
This week's calendar includes earnings reports from General Motors and Disney in addition to the latest consumer price index data.
Petroleum-linked shares were especially strong on Monday with the recent bounce in oil prices. Chevron jumped 2.5 percent, Apache 10 percent and Halliburton 5.6 percent. (AFP)
US Stocks Rise On Hopes Of Pause In Rate Increases
Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more
China's Financial Risks 'controllable': Regulators
The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more
Banks Cut Yuan Deposit Rates, Could Boost Consumption
China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more
Cheese And Wine Put EU, Australia Deal In Peril
Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more
US Stocks End Mixed As Tech Shares Are Sold Off
Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more
Amazon 'plans Prime Video Streaming Service With Ads'
Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more