US stocks mixed after Congress approves relief package | Money


The Wall Street sign is pictured at the New York Stock exchange in the Manhattan borough of New York City March 9, 2020. ― Reuters pic

NEW YORK, Dec 22 ― Wall Street stocks were mixed early Tuesday after Congress approved an economic relief package following months of grinding talks, while markets tracked the latest developments on the coronavirus.

Both houses of Congress overwhelmingly voted for a US$900 billion (RM3.6 trillion) relief package that includes new stimulus checks, unemployment benefits and airline worker payment support.

But investors are also focused on Britain, where a fast-spreading strain of Covid-19 has prompted some 40 countries to ban travel to the UK.

About 30 minutes into trading, the Dow Jones Industrial Average was down 0.5 percent at 30,064.12.

The broad-based S&P 500 slipped 0.1 per cent to 3,692.15, while the tech-rich Nasdaq Composite Index gained 0.7 per cent to 12,827.32.

The mixed open came after US stocks fell modestly Monday after much deeper declines earlier in the session on worries about the British virus developments.

Briefing.com analyst Patrick O’Hare said investors continue to buy market retreats based on a “fear of missing out on further gains” in a market characterised by bullish sentiment. ― AFP



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