U.S. stocks rise to records as lawmakers wrangle over aid
Cecile Gutscher and Claire Ballentine, Bloomberg News
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The dollar fell and U.S. stocks rose to all-time highs as lawmakers continued to wrangle over a federal-spending deal in Washington. Asian equities looked set for a mixed start.
Futures were little changed in Japan and Australian shares retreated. S&P 500 contracts were little changed after the index climbed for a third day. A bipartisan U.S. stimulus deal âappears to be close at hand,â Senate Majority Leader Mitch McConnell said, but will probably require work over the weekend to get through Congress. Investors earlier took an unexpectedly large rise in jobless claims as a sign the two sides would be prodded toward an agreement. Treasury yields rose.
U.S. Stocks Rise to Records, Treasuries Decline: Markets Wrap
Bloomberg 12/17/2020 Claire Ballentine and Vildana Hajric
(Bloomberg) U.S. stocks notched a solid gain to close at all-time highs, even as lawmakers continue to wrangle over a federal-spending deal.
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The S&P 500 climbed for a third day, even with Republicans and Democrats still unable to reach an agreement that would assist millions of Americans who face losing virus-era assistance later this month. Investors earlier took an unexpectedly large rise in jobless claims as a sign the two sides would be prodded toward a deal. The dollar slumped, Treasury yields rose and oil advanced. Bitcoin breached $23,000 for the first time.
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The precious metal is on course for a third weekly gain.
By Ranjeetha Pakiam, Bloomberg
17 Dec 2020 09:52
Image: Chris Ratcliffe/Bloomberg
Gold advanced after the Federal Reserve strengthened its commitment to supporting the recovery in the worldâs largest economy, and US lawmakers made progress in getting a fiscal stimulus deal over the line.
The precious metal is on course for a third weekly gain, with the Fed promising at its final policy meeting of 2020 to maintain its massive asset-purchase program until it sees âsubstantial further progressâ in employment and inflation. Chair Jerome Powell said that the case for fiscal stimulus is âvery, very strong.â Goldâs rise has been aided by a weaker dollar.
Gold Bulls Heartened by Fed s Resolve as Dollar Buckles kabc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kabc.com Daily Mail and Mail on Sunday newspapers.
U.S. Stocks Rise to Records, Treasuries Decline: Markets Wrap
Bloomberg 12/17/2020 Claire Ballentine and Vildana Hajric
(Bloomberg) U.S. stocks notched a solid gain to close at all-time highs, even as lawmakers continue to wrangle over a federal-spending deal.
Popular Searches
The S&P 500 climbed for a third day, even with Republicans and Democrats still unable to reach an agreement that would assist millions of Americans who face losing virus-era assistance later this month. Investors earlier took an unexpectedly large rise in jobless claims as a sign the two sides would be prodded toward a deal. The dollar slumped, Treasury yields rose and oil advanced. Bitcoin breached $23,000 for the first time.