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US stock market opened with growth in hopes of new liquidity injections


August, 10 2020
watermark Economic news

The US stock market started the week in a positive mood amid hopes for a compromise on a new package of measures to support the population and the economy.


Treasury Secretary Steven Mnuchin said a deal with House Democrats this week is still possible, despite the failure of talks last week when the parties failed to agree on a $2 trillion bailout.


So, Donald Trump the day before decided to extend the payment of unemployment benefits in the amount of $400 per week and to suspend the income tax bypassing Congress.


As a result, the Dow Jones Industrial Average rose 190 points, or 0.7%, to 27.624 points. The S&P 500 rose 0.3% to hit 3.350, while the Nasdaq Composite rose 0.2% to 10.923. Shares of such companies as McDonald's Corporation, Eastman Kodak Co, Simon Property Group Inc also showed growth.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.