US and European stocks pushed into record territory on Monday, buoyed by a pandemic recovery package agreed in the US and Britain’s Brexit deal with the EU.
All three major US stock indices finished at all-time highs, a feat reached earlier in the day by Germany’s DAX index.
“The stock market is in a celebration mode this morning,” said Patrick J. O’Hare at Briefing.com.
The jump came after US President Donald Trump signed a $900 billion (735 billion euros) stimulus bill late Sunday, averting a government shutdown, providing additional payments to unemployed workers and extending an eviction moratorium by a month.
Trump had previously refused to sign the relief package, but reversed his stance Sunday, removing a key uncertainty for markets, which remain in a bullish posture in anticipation of better economic growth in 2021 following coronavirus vaccine approvals.
The latest vaccine nearing authorization is from Oxford-AstraZeneca, with British media reporting over the weekend that it is expected to be cleared for use on January 4.
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