Stocks End Mixed after Trump Demands Congress Boost Coronavirus Aid

U.S. stock indexes ended combined Wednesday as President Trump prompted Congress to revamp the COVID-19 stimulus bill and offer more help to struggling Americans.

The Dow Jones Industrial Average climbed up 114 points, or 0.38%, while the S&P 500 rose 0.07%. The Nasdaq Composite, meanwhile, fell 0.29%, slipping off Tuesday’s record peak.

Trump on Tuesday night gotten in touch with Congress to extend larger direct payments to Americans while getting rid of “wasteful and unneeded spending.” He did not say whether he would ban the expense, which needs to be signed by Dec. 23.

Economic data out Wednesday morning was blended as initial claims for the week ended Dec. 19 fell to 803,000 from 892,000 the week prior. Continuing claims declined to 5.34 million from 5.51 million.

While durable goods orders likewise surpassed expectations, climbing up 0.9% month over month in November, individual earnings and spending fell more than anticipated, down 1.1% and 0.4% respectively.

In stocks, airline companies that would benefit from payroll help extended in the expense were greater.

Meanwhile, Pfizer and BioNTech consented to provide an additional 100 million dosages of their COVID-19 vaccine to the U.S., doubling the total quantity of dosages.

Merck reached a handle for the U.S. government to produce and provide its COVID-19 restorative. A trial earlier this year found the drug decreases mortality or respiratory failure by approximately 50%.

Somewhere Else, Nikola Corp., and Republic Providers ended their cooperation on refuse truck advancement. The electric-truck maker likewise laid out a roadmap for its Tre battery-electric semi-trucks in the U.S. next year and its strategies to break ground on its very first commercial hydrogen station.

FuboTV shares were lower for the very first time in 6 days after BMO Capital Markets cut its score to “market carry out” from “outperform.” The stock had skyrocketed 134% during its winning streak.

Looking at products, West Texas Intermediate petroleum acquired $1.10 to $48.12 per barrel while gold included $8.10 to $1,874.70 per ounce.

In Europe, Britain’s FTSE 100 edged up 0.66% while France’s CAC and Germany’s DAX climbed up 1.11% and 1.26% respectively.

Asian markets were higher across the board, with Japan’s Nikkei 225 up 0.33%, China’s Shanghai Composite index gaining 0.76% and Hong Kong’s Hang Seng index advancing 0.86%.

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