MSCI's gauge of stocks across the globe rose for a 9th session and United States stocks ended mostly higher on Thursday, February 11, supported by technology shares, while oil prices slipped.
Oil prices slid, ending a streak of strong gains after both the Organization of the Petroleum Exporting Countries and the International Energy Agency said renewed lockdowns and the emergence of new coronavirus variants reduced the prospect of a swift demand recovery.Tempering some enthusiasm in stocks, US President Joe Biden said China was poised to"eat our lunch.
"As long as the economic news is difficult the Fed is going to continue to act, which will prop up the stock market," said Sandy Villere, portfolio manager at Villere & Co. in New Orleans, Louisiana.$1.9-trillion relief billThe Dow Jones Industrial Average fell 7.1 points, or 0.02%, to 31,430.7, the S&P 500 gained 6.5 points, or 0.17%, to 3,916.38, and the Nasdaq Composite added 53.24 points, or 0.38%, to 14,025.77.