Wall Street finds itself hoping for a new stimulus package

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WALL STREET ENDS WITH THE HOPE OF A NEW STRIKE PLAN

(Reuters) – The New York Stock Exchange ended up 0.15% on Thursday, as hopes of a resumption of negotiations on a new economic stimulus package prevailed late in the session amid concerns over the crisis sanitary.

The Dow Jones index gained 44.81 points to 29,483.23. The larger S & P-500 gained 14.08 points, or 0.39%, to 3,581.87. The Nasdaq Composite meanwhile rose 103.11 points (0.87%) to 11,904.71 points.

Shortly before the close, Chuck Schumer, chairman of the Senate Democratic Group, announced that his Republican counterpart Mitch McConnell had agreed to resume discussions on a new tax relief plan.

“We’ve seen this scenario before, where investors flock to the security of technology and growth when the economy shows signs of slowing down, but everything is changing now with the hope of a new stimulus package,” he said. commented Ryan Detrick, strategist at LPL Financial in Charlotte, NC.

The surge in the number of COVID-19 cases, however, has steered investors towards blue chip stocks that have shown resistance to the pandemic.

L Brands jumped 17.7% after posting better-than-expected quarterly results and a 56% jump in sales.

Tesla, which is three consecutive sessions, gained 2.59%, riding the wave of its next entry in the S&P 500, announced on Monday.

(Stephen Culp, French version Jean-Philippe Lefief)

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