U.S. stocks open higher after Trump signs US$900 billion aid package

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Stocks began the final week of 2020 slightly higher after U.S. President Donald Trump signed a US$900 billion economic aid package that helps reduce uncertainty amid the re-imposition of travel and business curbs in response to a new coronavirus variant.

The S&P 500 index was up 0.7 per cent as of 9:45 a.m. Eastern. The Dow Jones Industrial Average rose 175 points, or 0.6 per cent, to 30,375 and the Nasdaq composite was up 0.7 per cent. Trump signed the measure, which also includes money for other government functions through September, despite expressing frustration that $600 payments to the public weren't bigger.

European indexes were broadly higher, helped by more details about the European Union - United Kingdom trade deal as part of the U.K.'s exit from the trade bloc. The Hang Seng in Hong Kong declined 0.3% to 26,314.63 after e-commerce giant Alibaba Group announced it was expanding a share buyback from $6 billion to $10 billion.

 

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The Us markets have been in Record terrgitory every since PT took office in 2016. Went from 17000 points to over 30000 points today. 👍

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