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Weak rise in the S&P 500 Index

24 December 2020
1741
1 min.
5
Weak rise in the S&P 500 Index

Stock indices

US stock indices S&P 500 and Dow Jones rose on Wednesday thanks to better-than-expected US jobless claims data and expectations of new stimulus.

Cyclical stocks, which have been hit hardest by the coronavirus restrictions and will benefit most from the economic recovery, performed best.

As the US Department of Labor reported the day before, the number of jobless claims in the country dropped to 803.000 last week, while analysts had forecast the figure at 885.000.

At the same time, the market reacted negatively to US President Donald Trump's threat not to sign the $892bn coronavirus relief bill. Such a decision by the president could lead to a temporary suspension of the federal government due to a lack of funding.

The Dow Jones index closed up 0.38% to 30,129.83 points, the S&P 500 index rose 0.07% to 3,690.01 points, while the Nasdaq was down 0.29% to 12,771.114 points.

Among the 11 major sectors of the S&P 500, all but real estate, information technology and utilities finished on the plus side.

Pfizer (NYSE:PFE) Inc gained 1.9% on a contract to supply the United States with 100 million doses of the COVID-19 vaccine by July 2021.

Shares of American Airlines (NASDAQ:AAL) Group and United Airlines Holdings rose 2.6% and 2.7%, respectively, after plans to bring back to work employees sent on unpaid leave were unveiled.

Persons1 and Companies4 in the news

45th President of the United States
1 place
Dow Jones
3 place
Pfizer
4 place
Section:

Discussion

Rating companies
Tesla
56 Mention
Apple
55 Mention
Nasdaq
52 Mention
Amazon
52 Mention
Dow Jones
43 Mention
Facebook
43 Mention
Microsoft
31 Mention

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