08/03/2021 18:45
Acceleration of Wall Street with the Dow Jones flying above 32,000 points, up 600 points, or 1.9%. The progress of the S&P 500 was more moderate (+ 0.78%). The US Senate has given the go-ahead for the $ 1,900 billion stimulus plan to boost the New York Stock Exchange. At this point, the final vote of the House, controlled by the Democrats, is expected, which should give the final go to the bill at the end of the week. The proposal will then become law with the signature of Joe Biden, which will be affixed before the expiry of the current aid programs for the unemployed.
The stocks benefiting most from a strong economic recovery and a gradual easing of restrictive measures. Disney’s over + 5% stands out on the Dow Jones after California eased anti-Covid restrictive rules, paving the way for Disneyland to reopen on a limited basis in April. Cisco Systems also sprinted up with + 4%, increases of about 3% for Coca-Cola and Visa. Among the few DJ titles to pay duty are technology Apple (-2.6%) and Microsoft (-0.35%).
The news of Sentato’s ok to the Biden plan fuels optimism for a strong recovery in the American economy, against the markets that also come with a sharp jump in inflationary pressures with 10y Treasury yields rising again above the 1.6%. Tech stocks are paying duty with Nasdaq down 0.46%.
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