On the New York Stock Exchange (NYSE), the main index closed mixed amid a recent breathtaking rally.
The Dow Jones 30 industrial average closed at 31,375.83 on the New York Stock Exchange (NYSE) on the 9th (U.S. time), down 9.93 points (0.03 percent) from the previous day.
The Standard & Poor’s 500 closed at 3,911.23, down 4.36 points (0.11%) from the previous session, while the tech-heavy Nasdaq rose 20.06 points (0.14%) to close at 14,007.70.
For the first time in history, Nasdaq continued its record-breaking rally past the 14,000 mark in the NYSE
The market watched the progress of the U.S. stimulus package, corporate performance, and the wake of COVID-19 pandemic.
While additional materials that could power the market were not highlighted, it showed a breathtaking aspect.
The stock index has risen steadily recently, with the Dow rising for six consecutive trading days until the previous day. The three major indexes all hit record highs.
The expectation that the $1.9 trillion stimulus proposed by U.S. President Joe Biden will revive the economy provided a warm breeze not only for stocks but also for the overall asset market.
The Democrats passed a budget resolution in the Senate and the House of Representatives last wee. They paved the way for the introduction of stimulus measures without Republican cooperation.
House Democrats proposed a stimulus package the previous day, including $1,400 in cash for Americans, an additional $400 a week for unemployment benefits, and airline support.
Expectations have grown that large-scale stimulus measures are imminent.
Goldman Sachs predicted that the final amount of stimulus measures to be introduced will be $1.5 trillion. It is more than the original estimate of $1.1 trillion.
Biden and Treasury Secretary Janet Yellen met with executives from major companies such as JP Morgan Chase and Walmart to discuss ways to boost the economy.
The fact that the COVID-19 situation in the U.S. is calming is also a factor in supporting investor sentiment.
