Wall Street closes in record; S&P 500 and Dow Jones spin six sessions higher.
The New York Stock Exchange, better known com or Wall Street , reached this new Monday highs by investor optimism about the prospects for a faster economic recovery from the crisis of the covid-19 and waiting for further stimulus and accelerated launch of vaccines.
The three major US stock indices gained ground, with the S&P 500 and the Dow Jones posting their sixth consecutive gains, their longest winning streak since August. We recommend: BMV closes with profit in volatile session; Famsa titles rise again Small-cap companies, which would benefit more from an economic rebound , outperformed their larger peers.
“Investors are starting to play with the openness of the economy and the fact that the vaccine is starting to work,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “And maybe they can go to a baseball game this summer.” Still, the prolonged rally is cause for concern.
“Stocks have been overvalued for much of the past year,” Nolte added. “And the things that we are seeing now, with GameStop and bitcoin, are signs of speculation, not investment.” We recommend you.
Peso closes marginally higher after volatile session; dollar is trading at 20.10 unitsEconomy opens reception of applications for the Credits to the Word program Oil prices rose to their highest level in more than a year on supply cuts and hopes of a stimulus-driven pickup in demand, helping energy stocks rise 4.2 percent.
Hundred Treasury Secretary Janet Yellen said that if Congress passes President Joe Biden’s $ 1.9 trillion fiscal aid package, the United States could return to full employment next year.
The Dow Jones Industrial Average rose 237.52 points, or 0.76 percent, to 31,385.76 units; the S&P 500 gained 28.76 points, or 0.74 percent, to 3,915.59 units; and the Nasdaq Composite added 131.35 points, or 0.95 percent, to 13,987.64 units.