⁍ Wall Street shares closed higher Tuesday on growing optimism that U.S. lawmakers are nearing a deal on a stimulus package.
⁍ House of Representatives Speaker Nancy Pelosi said late on Tuesday that she hoped a coronavirus aid agreement could be accomplished by the end of this week.
⁍ A majority of the S&P sectors was up, with financials.
⁍ SPNY, industrials .SPLRCI and consumer discretionary .SPLRCD stocks underpinning gains.
– The stock market had a relatively strong day on Tuesday, with the Dow up more than 400 points at one point. The S&P 500 and Nasdaq also closed in positive territory. Here’s what you need to know: The Dow: The Dow closed up 0.4% at 28,308.79, while the S&P 500 and Nasdaq closed up 0.4% and 0.33%, respectively. House Speaker Nancy Pelosi said late Tuesday that she hoped a deal on a coronavirus aid agreement could be accomplished by the end of this week, reports Reuters. “I think no matter who gets elected, we will get the stimulus,” says Brian Reynolds, chief market strategist at Reynolds Strategy. “The current headlines are short term in nature. Eventually, they would get together and produce more stimulus for the economy because all the sectors that are lagging need it badly.” Google: The Justice Department and 11 states filed an antitrust lawsuit against Google for allegedly breaking the law in using its market power to fend off rivals, reports the Wall Street Journal. “It’s like locking the proverbial door after the horse has bolted,” says an analyst at Mirabaud Securities in London. “Google has already got the monopolistic position, has invested billions in infrastructure, AI, technologies, software, engineering and talent. You can’t simply unwind a decade of significant progress, or create new alternative powerhouses or tech ecosystems out of thin air.”
Source: https://www.reuters.com/article/us-usa-stocks/wall-street-shares-end-higher-on-stimulus-optimism-idUSKBN2751D7