Business News

US, European stocks end at records on US stimulus, Brexit deal

0
US, European stocks end at records on US stimulus, Brexit deal
US, European stocks end at records on US stimulus, Brexit deal

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.

Content Source: http://www.digitaljournal.com
Image Source: http://www.digitaljournal.com