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US stocks end mixed amid anticipation of stimulus package
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IANS | 26 Mar, 2020
US stocks ended mixed on Wednesday in anticipation of the approval of a massive coronavirus stimulus package.
The
Dow Jones Industrial Average increased 495.64 points, or 2.39 per cent,
to 21,200.55. The S&P 500 rose 28.23 points, or 1.15 per cent, to
2,475.56. The Nasdaq Composite Index was down 33.56 points, or 0.45 per
cent, to 7,384.30, Xinhua reported.
Eight of the 11 primary
S&P 500 sectors closed higher, with industrials up 5.29 per cent,
outpacing the rest. Communication services dropped 1.59 per cent,
representing the worst-performing group.
The US Senate is
expected to approve a $2-trillion stimulus package later Wednesday to
blunt the economic impact of COVID-19, after days of strenuous
negotiations between Republicans and Democrats.
The White
House and Senate leaders reached a deal early Wednesday morning on the
massive stimulus package, which is aimed at cushioning the economy from
the growing impact of the coronavirus outbreak.
The number of
COVID-19 cases in the US topped 60,000 as of Wednesday noon, according
to the Center for Systems Science and Engineering at Johns Hopkins
University.
Wednesday's market movement followed a historic
rally in the previous session, with the 30-stock index soaring more than
2,100 points, or over 11 per cent, notching its biggest one-day
percentage gain since 1933.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 10 Jul, 2020 |
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