NEW YORK: Wall Street closed higher at the end of a whipsaw session on Thursday as investors juggled hopeful and pessimistic news on the progress of stimulus talks Washington amid signs of waning momentum of economic recovery from the pandemic recession, now entering its ninth month.
In negotiations for a new pandemic relief deal, the White House countered House Democrats' US$2.2 trillion package with a US$1.5 trillion-plus proposal. The Dow Jones Industrial Average rose 35.2 points, or 0.13per cent, to 27,816.9, the S&P 500 gained 17.8 points, or 0.53per cent, to 3,380.8 and the Nasdaq Composite added 159.00 points, or 1.42per cent, to 11,326.51.
Analysts currently see S&P 500 earnings, in aggregate, falling by 21.4per cent year-on-year according to Refinitiv. Boeing Co rose 1.6per cent and after U.S. Federal Aviation Administration Chief Steve Dickson remarked"I liked what I saw" in the previous day's 737 MAX test flight.
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