The Dow Jones 30 industrial average closed at 29,883.79 on the New York Stock Exchange on Tuesday. Up 59.87 points, or 0.20 percent, from the previous session.
The Standard & Poor’s 500 closed at 3,669.01, up 6.56 points, or 0.18 percent, from the previous session. But the tech-heavy Nasdaq lost 5.74 points, or 0.05 percent, to close at 12,349.37.
The market watched major economic indicators. Including negotiations on U.S. stimulus measures, and news related to the COVID-19 vaccine.
The stock exchange market was generally weak in early trading
The sluggish stock market index was also affected by the large increase in the level burden. With the key index renewing its all-time high, reported WSJ.
U.S. President-elect Joe Biden said more support would come after his inauguration the previous day. But he also stressed the need to settle some stimulus measures before taking office.
Along with COVID-19 vaccine recent development, positive news followed.
The British government has approved the emergency use of Pfizer vaccine. Vaccines are waiting for expected approval in the U.S. and Europe soon.
Expectations are high for economic normalization after the launch of the COVID-19 vaccine. However many predict that it may be difficult to continue the upward trend like last month. As stock prices have already risen significantly based on this.
Anxiety over the relationship between the U.S. and China also undermined investor sentiment as well.
This is because Biden expressed his intention not to immediately revise the first-phase trade agreement with China or high-rate tariffs. In an interview with the New York Times, he said, “I will not damage my options.”
It has stimulated concerns that a hard-line public policy may continue.
Other economic indicators released on the same day were also sluggish.
New York Stock Exchange experts expressed expectations for a U.S. stimulus package. However, they predicted that the size would be in limit.
On the Chicago Board of Options (CBOE), the volatility index (VIX) rose 1.93 percent from the previous trading day to 21.17.
