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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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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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