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U.S. Indices: Second Vaccine Approval And Implementation Of Stimulus Plan Brought Record Highs At Wall Street

The primary U.S. stock indices ended trade in positive territory on Thursday, December 17. The S&P 500 and Nasdaq revised their historical highs on the optimistic overall stimulus outlook.

On the agenda were talks to provide $900 billion in assistance to the population. In debating the reach and timing of the stimulus, Republicans and Democrats in Congress have made progress. In the sense of current economic realities, the implementation of the stimulus package is a required step. Statistics on the job market suggest that there are more and more Americans filing for unemployment benefits.

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Statistics released have been mixed. Over the past week the number of initial applicants for unemployment benefits in the United States was 885,000, whereas 800,000 were anticipated, and the Philadelphia manufacturing activity index was 11.1 points in December, while 20 points were expected. Good figures were shown by the construction industry. In November, the number of building permits issued was 1.639 million units, while analysts had expected 1.550 million units.

The blue-chip Dow Jones Industrial Average rose 0.49 percent to 30,303.4 points at the end of the day. The S&P 500 broad-based index reported a rise of 0.58 percent to 3,722.5 points, and the high-tech companies’ Nasdaq index gained 0.84 percent and finished at 12,752.1 points.

At $48.36 a barrel, light crude futures closed up 1.05 percent. The price of gold has risen by 1.13% and is at $1885.5 per troy ounce. Meanwhile the EUR / USD currency pair added 0.57 percent and finished trading at 1.227 on Thursday. In exchange, the yield on 10-year Treasury bonds was 0.938 percent.

U.S. food producer General Mills Inc (GIS) showed an improvement of 1.32 percent which brought its share’s price to $59.70. The organization beat its second-quarter earnings expectations. In the current quarter, sales of pet food and baked goods rose strongly.

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