The New York Stock Exchange opened higher, maintaining its momentum from last week, in a market reassured by the prospect of a gigantic plan to support the US economy.
At around 15:05 GMT, the stock index, the Dow Jones Industrial Average, rose 0.65% to 31,350.79 points. The high-tech Nasdaq was up 0.74% at 13,958.30 points and the S&P 500 extended index was up 0.55% at 3,908.10 points.
Wall Street closed at record highs on Friday, posting its best week in two months.
In a Sunday night interview on CNN, Treasury Secretary Janet Yellen said the $ 1.9 trillion stimulus package could return the U.S. economy to full employment as early as 2022 if passed.
The market “who never misses an opportunity to move forward with the hope of budget support”, notes Patrick O’Hare of Briefing, reacted positively to these statements.
Yellen’s comments also helped push yields on 10-year and 30-year Treasuries to their highest level in a year. The prospect of robust economic growth points to rising inflation, which tends to push bond rates up.
Today’s values
Among today’s values, Tesla was up 1.71%. The electric vehicle maker has invested $ 1.5 billion in bitcoin and will start accepting virtual currency as a means of payment for the purchase of its cars.
Data and intelligence analytics group Palantir climbed 11.79% after announcing a partnership with IBM (+ 1.05%) to “simplify the way businesses design and deploy applications using the ‘artificial intelligence”.
AstraZeneca rose 1.49% despite the suspension by South Africa of the Covid-19 immunization campaign using the vaccine developed by the laboratory, whose effectiveness for the elderly and against the South African variant of virus is questioned.
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