Reduced volatility in US stock markets… Investors expect economic recovery
The Dow, S&P 500, and Nasdaq in the US stock market closed at all-time highs. The market, which was confused by the game stop crisis, reduced volatility, and investors focused on the possibility of stimulating the economy.
On the 8th (local time), the Dow Jones Industrial Average of the US New York Stock Market closed at 31,385.76, up 237.52p (0.76%) from the closing price of the previous trading day.
The Standard & Poor’s (S&P) 500 index rose 28.76p (0.74%) to 3915.59, while the Nasdaq composite index ended the market at 11,3987.64, up 131.35p (0.95%).
The Dow Index and the S&P 500 rose for six consecutive trading days, and the Nasdaq rose for three consecutive trading days. All of these indices reached record highs based on the closing price.
Local media said the stock price hit an all-time high on Monday as investors expected the effect of a new stimulus package.
The Wall Street Journal reported that the U.S. stock market has recently turned upward as volatility in individual stocks such as Gamestop has decreased. Investors are focusing on the prospect of a new batch of government spending.
The media said the Democrats voted last week to approve President Biden’s $1.9 trillion bailout bill without Republican Senate support, and that the House of Representatives aims to finalize and vote on the bailout bill before the end of this month .
Stock markets in major European countries rose slightly. The UK London stock market FTSE 100 index closed at 6523.53, up 0.5% from the closing price on the previous trading day, and the French Paris stock market CAC 40 index rose 0.5% to 5686.03.
Germany’s Frankfurt Stock Exchange’s DAX 30 index reached 10,4059.91, while the pan-European index Euro Stoxx 50 index rose 0.3% to 3665.51.
International oil and gold prices have also risen. On the same day, on the New York Mercantile Exchange (NYMEX), Western Texas crude oil (WTI) for March deliveries closed at $57.97, an increase of $1.12 (2%) per barrel compared to the closing price of the previous trading day. The market closed at $1834.20, which rose (1.1%).
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