The New York Stock Markets Have Started Gains on the Last Trading Day
The New York stock markets have started gains on the last trading day of the week. This puts the indicators on track for a fifth positive trading session in a row.
Investors process, among other things, the US government jobs report. Besides, President Joe Biden’s corona support package has come one step closer.
The Dow Jones index rose 0.5 percent to 31,220 points. The broader S&P 500 gained 0.4 percent to 3888 points, and tech gauge Nasdaq gained 0.2 percent to 13,802 points.
After a long meeting, the United States Senate approved the budget of Biden’s package worth $ 1,900 billion. The Senate has made a number of changes to the plan, such as extra support for hospitals in the countryside. Due to the changes, the House of Representatives, which previously agreed to them, has to vote again.
Employment in the United States rose in January, but less than economists generally expected. Experts say that this limited recovery in the labour market is increasing the call for extra corona support for the American economy. It was also announced that unemployment had fallen markedly in the first month of the year, to 6.3 percent from 6.7 percent in the previous month.
Automaker Ford (plus 1.5 percent) wants to invest $ 22 billion in electric and self-driving cars over the next four years. That is almost double the previous investment plans in plug-in vehicles.