Indexes in New York rose on expectations of agreements to stimulate the US economy

The Dow Jones rose to 28 686,31 points.

Key indexes on the New York stock exchange rose at the start of the session on Monday. As The Wall Street Journal noted, three factors influence investor sentiment: the situation in the US Congress with a package of measures to stimulate the economy, the upcoming presidential election, and the ongoing spread of the coronavirus.

According to the information posted on the trading platform’s website, the Dow Jones industrial average rose 80.00 points (0.28%) to 28 686,31. The S&P 500 index, which includes the 500 largest US companies, rose 12.86 points (0.37%) to 3 496,67. The Nasdaq electronic exchange index rose 62.92 points (0.54%) to 11 734,48.

The price of November WTI crude futures rose 0.15% to $40.94 per barrel. Gold futures rose 0.49% to $1, 15,60 a Troy ounce.

“Market participants almost ruled out the possibility that a major package of measures to stimulate the economy could be adopted before the upcoming November 3 elections,” The Wall Street Journal noted. Over the weekend, the House of Representatives speaker, Nancy Pelosi, said that the White House has until Tuesday to work out an agreement with the Democrats. If the deadline passes without reaching a compromise, the chances that further negotiations on this issue will produce a result will become even more remote.”

“It seems that politicians are gradually converging their positions and taking a more constructive approach to the issue of developing a package of measures to stimulate the economy,” the newspaper quoted Altaf Kassam, head of the investment Department at State Street Global Advisors, as saying. “If they can develop a bipartisan approach to this issue before the election, it will make a big difference.”

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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