Wall Street Set Record Closing Highs as Stimulus Prospects & Ongoing COVID-19 Vaccine Deployment Boost Investors' Optimism
Wall Street set record closing highs as stimulus prospects and ongoing vaccine deployment boosted investors' optimism over the pace of economic recovery from the recession. The hope was that the fiscal relief package would lead to a speedy economic recovery.
Washington, February 9: Wall Street set record closing highs as stimulus prospects and ongoing vaccine deployment boosted investors' optimism over the pace of economic recovery from the recession. The hope was that the fiscal relief package would lead to a speedy economic recovery.
According to a Reuters report, S&P 500 and Dow posted their sixth consecutive gains, their longest winning streak since August. The oil prices also rose to their highest in over a year due to supply cuts and hopes for a stimulus-driven demand rebound, helping energy stocks jump 4.2 percent. Wall Street Hits New Records, Stock Markets Across Globe Rally as President Joe Biden Takes Office; Asian Stocks Set For a Strong Start.
The Dow Jones Industrial Average rose 237.52 points, or 0.76%, to 31,385.76, the S&P 500 gained 28.76 points, or 0.74%, to 3,915.59 and the Nasdaq Composite added 131.35 points, or 0.95%, to 13,987.64.
(The above story first appeared on LatestLY on Feb 09, 2021 08:13 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).