Monday, 01 June 2020
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Dow Opens Higher but S&P 500, Nasdaq Fight for Traction as Investors Anticipate $2 Trillion Stimulus Package

U.S. stocks indexes were trading mixed at the start of trade Wednesday, following a historic rally Tuesday, as investors digest the details of a $2 trillion stimulus package that the U.S. Senate and Trump Administration agreed to early Wednesday morning.

The Dow Jones Industrial Average rose 241 points, or 1.2% to trade around 20,964, the S&P 500 index added 1 point, or less than 0.1% to about 2,448 and the Nasdaq Composite index advanced roughly 8 points, or 0.1% to trade at 7,418.

The stimulus package is set to be voted on in the Senate at Wednesday afternoon and will reportedly include direct cash payments to Americans, funding for state and local governments and loan programs for U.S. businesses large and small. Industries seen to derive the most benefit from the deal were trading higher early Wednesday, including American Airlines Group Inc. , Norwegian Cruise Line Holdings Ltd. and Boeing Co. were trading higher early Wednesday.

Source : Marketwatch

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