Better-than-expected U.S. corporate earnings also lifted equities, analysts said, prompting investors to edge out of perceived safe-haven assets like U.S. Treasuries on Wednesday.
On Wall Street, all 11 S&P 500 sector indexes traded higher as the U.S. Senate unanimously approved the new relief package, adding to trillions of dollars in stimulus that have helped Wall Street rebound from its March lows. Still, it may take European Union countries until the summer if not longer to agree on how to finance aid to help economies recover from the pandemic as major disagreements persist, a bloc official said on Wednesday.
On Wall Street, the Dow Jones Industrial Average rose 456.94 points, or 1.99%, to 23,475.82, the S&P 500 gained 62.75 points, or 2.29%, to 2,799.31 and the Nasdaq Composite added 232.15 points, or 2.81%, to 8,495.38.
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