About 20 minutes into trading, the Dow Jones Industrial Average was up 0.4 per cent at 31,191.70. — Reuters pic
NEW YORK, Jan 14 — Wall Street stocks rose early today as markets anticipated the unveiling of President-elect Joe Biden’s economic plan while data showed a spike in jobless claims.He has pledged the plan will include direct payments to individuals that would bring the total to US$2,000 — following US$600 payments approved late last month — as well as other support measures including help for small businesses.
The announcement comes as data showed applications for unemployment benefits rose sharply in the first week of 2021, with a surge of 181,000 — the biggest increase since the coronavirus pandemic began in March — bringing the total close to the one million level not seen since August.The broad-based S&P 500 gained 0.2 per cent to 3,817.72, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 13,174.21.
Among individual companies, Delta Air Lines jumped 3.8 per cent after it reported a US$12.4 billion loss for 2020 but predicted a much better 2021 as coronavirus vaccines become more widespread.Related Articles
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.