US closes higher after Yellen's inflation projection

Monday, 05. April 2021 22:00

Major stock markets in the United States closed higher on Monday after Treasury Secretary Janet Yellen said she believed President Joe Biden's proposed infrastructure bill would not lead to inflationary pressures. The White House later stated Biden's administration was ready to discuss the proposal. Meanwhile, IHS Markit and the Institute for Supply Management's (ISM) reports both noted improvement in the country's service sector. Lastly, Microsoft Corporation's stocks reached their record price of $249.75 per share.

The Dow Jones Industrial Average surged by 1.12% at the close as Walgreens Boots Alliance, Inc. advanced by 3.74%. The Nasdaq 100 rocketed by 2.02%, with Tesla Inc. going up by 4.43%. The S&P 500 soared by 1.41% as Norwegian Cruise Line Holdings Ltd. rose by 7.02%. The Dow Jones and the S&P 500 both closed at their record highs.

The euro gained 0.43% against the dollar to sell for $1.18132.

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Author:
Breaking the News / JR