Posted on 12/28/20
| News Source: FOX Business
The Dow Jones Industrial Average was higher by 204 points, or 0.68%, while the S&P 500 and the Nasdaq Composite were up 0.87% and 0.74%, respectively.
Apple was a standout, hitting its own record high while being the S&P 500's most actively traded name.
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The sentiment for the broader market was driven by Trump signing a $900 billion COVID-19 aid package that includes a direct payment of up to $600 to most Americans, an additional $300 per week in unemployment benefits and Paycheck Protection Program funding.
Trump, who had threatened to veto the bill due to parts of it containing “wasteful and unnecessary spending,” called on Congress to at a later date increase the direct payment to $2,000. Votes are scheduled for later today.
Looking at stocks, U.S. air carriers were among the top performers as the beaten-down sector is set to receive relief from the package. Read more at FOX Business