New York stock markets closed higher on Monday at 15, with the Dow Jones and S&P 500 renewing historic closing highs for the fourth straight trading session, in the case of the first index, and for the third consecutive session in the case of the second. The fall in Treasuries yields, U.S. government bonds, supported gains in the stock market, which operated volatile for most of the day. Actions sensitive to the U.S. economic scenario have benefited from the implementation of the country’s $1.9 trillion tax package, as well as discussions on more investments in the infrastructure sector, which can be funded by new taxes.
The Dow Jones index closed up 0.53%, at 32,953.46 points, the S&P 500 rose 0.65%, to 3,968.94 points, and the Nasdaq advanced 1.05%, to 13,459.71 points. The tech sector, which is healist on the Nasdaq, posted gains in most stocks today, with highs on Apple (+2.45%), Facebook (+1.99%), and Alphabet (+0.22%), Google’s parent company. Microsoft, however, fell 0.40%.
Ny stock exchanges responded largely to the move in bonuses of the American Treasuries. Earlier, bond returns rose, putting pressure on the indexes, which firmed higher during the afternoon of today with the fall in interest rates. Investors pause the sell-off movement in the fixed income market waiting for signals about advancing yields from the Federal Reserve, whose Federal Open Market Committee (Fomc) meets this week to decide the bank’s monetary policy. The president of the institution, Jerome Powell, will hold a press conference after the release of the statement by the Fed.
The $1.9 trillion tax package, signed last week by U.S. President Joe Biden, continues to support New York’s exchanges. Today, Biden confirmed gene sperling’s choice to oversee the implementation of the package’s resources as the first direct payments provided for in the legislation are released to Americans.
In addition to the tax package, the rapid pace of vaccination against covid-19 in the U.S. supported roles of some of the sectors most impacted by the health crisis. Airline stocks have accumulated some of the biggest advances today in NEW YORK, with American Airlines up 7.70%. United Airlines rose 8.26 percent today, at the highest in the S&P 500, after the company said it expects its cash in March to be positive, following an increase in travel due to lower pandemic-related restrictions.
Investors are still watching the negotiations for new fiscal stimulus to the U.S. infrastructure sector. White House spokeswoman Jen Psaki, when asked about this new package, said Biden believes large corporations can pay more taxes, implying that the bill can be funded through an increase in corporate taxes.
Among the negative stock market highlights today, drugmaker Eli Lilly retreated 9.09 percent in the slightest fall in the S&P 500 after results of an Alzheimer’s drug frustrated investors, Dow Jones Newswires reported. Oil stocks also fell, with losses from Occidental Petroleum (-4.34%), ExxonMobil (-2.55%), Chevron (-1.17%) and ConocoPhillips (-1.74%).( WITH INFORMATION FROM DOW JONES NEWSWIRES)