U.S. stocks rise as Wall Street eyes stimulus


  • World
  • Saturday, 10 Oct 2020

NEW YORK, Oct. 9 (Xinhua) -- U.S. stocks finished higher on Friday as Wall Street focused on updates concerning coronavirus stimulus.

The Dow Jones Industrial Average increased 161.39 points, or 0.57 percent, to 28,586.90. The S&P 500 was up 30.30 points, or 0.88 percent, to 3,477.13. The Nasdaq Composite Index rose 158.96 points, or 1.39 percent, to 11,579.94.

Eight of the 11 primary S&P 500 sectors advanced, with technology up 1.54 percent, leading the gainers. Energy slipped 1.58 percent, the worst-performing group.

U.S.-listed Chinese companies traded mostly higher, with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi on Friday continued talks surrounding potential coronavirus relief package.

Earlier this week, U.S. President Donald Trump had halted relief talks with Democrats, then he reversed course and tweeted that he wanted to pass legislation on aid to airlines and small businesses.

It is not clear whether congressional lawmakers and the Trump administration could bridge their differences and reach an agreement on the relief package before the presidential election on Nov. 3.

Federal Reserve Chairman Jerome Powell on Tuesday urged policymakers to provide more fiscal relief to households and businesses hurt by the pandemic, warning a prolonged slowing economic recovery could trigger typical recessionary dynamics.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

Canadian lawmakers pass bill criminalizing LGBT conversion therapy
Sudan asks U.N. Security Council to meet over Ethiopia's Blue Nile dam
U.S. Senate war powers vote now delayed until at least July
U.S. blasts Nicaragua 'campaign of terror' as global condemnation grows
Dozens of Congo's rebels lay down weapons in the east
U.S. blocks websites linked to Iranian disinformation - source
World Bank vows to keep board apprised of climate action progress
At least 11 police killed in Burkina Faso ambush
Poland tightens COVID quarantine rules for travellers from Britain
Explainer-Untangling the crisis in Libya

Stories You'll Enjoy


Vouchers