Stock prices rise on optimism over new US economic stimulus package :: Dienas Bizness

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Stock prices rose mostly on Tuesday, with renewed optimism about the adoption of a new US economic stimulus package.

U.S. Democrats and Republicans continue talks on a new package to help the U.S. economy recover from the effects of the Covid-19 pandemic, but analysts point to news of good progress in the talks.

“There is a strong desire on both sides to get some incentives accepted. I think the market is waiting for that,” said Bob Phillips, an analyst at Spectrum Management Group.

Concerns about the new coronavirus pandemic have eased as the rate of infection has slowed in some of the worst-affected US states.

“More and more investors believe the worst is behind them, given the current wave of outbreaks,” said Gorilla Trades strategist Ken Berman.

On Wall Street, stock prices rose and the Nasdaq Composite Index reached a new record closing time. There was also an increase in the main European stock markets, with the exception of the Frankfurt Stock Exchange, which experienced a decline.

Gold prices reached new highs, rising above $ 2,000 an ounce for the first time. With the Covid-19 pandemic weakening the economy and worsening the global financial outlook, gold prices have risen by more than 30% this year.

The Dow Jones Industrial Average rose 0.6% to 26,828.47 points on Tuesday, the Standard & Poor’s 500 index rose 0.4% to 3306.51 points, and the Nasdaq Composite index rose by 0.4% to 10,941.17 points.

The London Stock Exchange index FTSE 100 rose 0.1% to 6036.00 points on Tuesday, the Frankfurt stock exchange index DAX 30 fell 0.4% to 12,600.87 points, and the Paris stock exchange index CAC 40 rose 0.3% to 4889 .52 points.

In the e-commerce of the New York Stock Exchange, the price of WTI crude oil rose by 1.7% to $ 41.70 per barrel on Tuesday. The price of Brent crude rose 0.6% to $ 44.43 a barrel on the London Stock Exchange.

The euro rose from 1.1762 to 1.1798 dollars per euro against the US dollar on Tuesday, the British pound fell from 1.3075 to 1.3060 dollars per pound against the US dollar, and the US dollar against the Japanese yen fell from 105.95 to 105.64 yen per dollar.

The euro rose against the pound sterling from 89.96 to 90.33 pence per euro.

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