Dow closes 100 points higher on aid package expectations

Monday, 27. July 2020 22:00

Stock markets on Wall Street closed in the green on Monday mostly driven by the major tech names outperformance. Also, investors have turned their focus on Washington as lawmakers are negotiating over another coronavirus stimulus package. Meanwhile, White House Economic Adviser Larry Kudlow stated the country's V-shaped economic recovery from the coronavirus pandemic is "still intact" and that he believes the data figures for July will be "solid."

The Dow Jones Industrial Average index jumped 0.43%, or 114 points as Dow Inc. rose 3.26%, at the close while the S&P 500 climbed 0.74%. Alexion Pharmaceuticals was the best performer going up by 5.28%. The Nasdaq 100 added 1.82% with Moderna Inc. jumping 9.15%.

The euro was 0.78% higher compared to the dollar to change hands at 1.17466 at 3:59 pm ET.

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Breaking the News / TF