The market opened higher on Tuesday as companies like Coca-Cola and IBM beat earnings estimates and investors remain on alert for fiscal stimulus updates from U.S. lawmakers.Johannes Eisele/AFP via Getty ImagesThe Dow Jones Industrial Average was up 1.2%, over 300 points, on Tuesday, while the S&P 500 rose 0.7% and the tech-heavy Nasdaq Composite lost 0.1%.
IBM shares rose 2% after the company topped revenue estimates and improved gross margins in the second quarter, while Coca-Cola also topped Wall Street expectations—despite aMarket sentiment got a boost after European Union leaders agreed to move forward with a 750 billion euro stimulus package: The European Council President called it a “pivotal moment” for Europe.
The announcement comes as U.S. lawmakers work on another coronavirus relief bill, with many investors on Wall Street monitoring the progress being made on additional stimulus. Congress faces mounting pressure to pass more relief before the end of July, which is when the $600 per week federal unemployment insurance benefit will run out.on Tuesday that he doesn’t expect the next coronavirus relief bill to pass before the end of the month, when several key provisions of the $2.2 trillion CARES Act will expire.
Stocks have also moved higher on the back of positive vaccine news in recent days: Pfizer and BioNTech both reported progress on their joint coronavirus vaccine, while a vaccine from Oxford University and AstraZeneca showed aOil prices hit their highest levels since March: WTI futures jumped to over $42 per barrel on Tuesday, while Brent crude reached nearly $45 per barrel.
Give it 2 months and we will see a recession
As the 3rd seal of Revelations continues to bring hyperinflation into the picture as the Government debt rises to the moon and Satan's bookkeepers at the FED print enough money to stack the decking favor of the 1%, Congress will throw more pennies to Citizens.
Another day, another dollar...
The problem with the stock market isn't the lack of stimulus, it's the lack of ingenuity,,.
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