Dec. 17 (UPI) — U.S. stocks closed at document highs on Thursday as traders maintained optimism over COVID-19 stimulus negotiations in Congress.
The actual property, supplies and well being care sectors led the S&P 500’s rise, climbing 1% every.
Senate Republican chief Mitch McConnell on Thursday mentioned Congress was nearing a coronavirus stimulus deal as leaders on Wednesday mentioned a $900 stimulus bundle together with direct funds to people.
“Stimulus continues to be the primary driver available in the market proper now till they get one thing finished and it does seem there may be some motivation on that entrance to get one thing finished,” Dan Deming, managing director at KKM Monetary mentioned.
Thursday’s positive aspects got here regardless of 247,000 new coronavirus instances in america on Wednesday and practically 3,700 deaths each representing all-time highs.
Because the begin of the well being disaster, there have been 17.01 million COVID-19 instances and 308,100 deaths, in accordance with Johns Hopkins.
Moreover, the U.S. Division of Labor reported that 885,000 employees filed new claims for the week ending Dec. 12, probably the most since early September.
The S&P and Nasdaq hit document highs on Wednesday in addition to lawmakers mentioned the stimulus invoice and Federal Reserve Chairman Jerome Powell dedicated to proceed shopping for no less than $120 billion worth of bonds every month till america reaches full employment and inflation stays at 2%.
Market information on Fintech Zoom.