U.S. stocks moved higher at the start of trade Thursday, following the Senate's approval the massive stimulus bill late Wednesday night.
The Dow Jones Industrial Average rose about 445 points, or 1.9% to trade at 21,684, the S&P 500 index gained 46 points, or 1.8% to roughly 2,520 and the Nasdaq Composite index added 118 points, or 1.5% to trade at around 7,497. The bill authorizes direct payments of up to $1,200 per adult and $500 per child, while setting up a fund for loans to small businesses and another to provide help to industries, cities and states.
The gains give the major benchmarks a chance to close higher for three straight sessions, a feat not accomplished in more than two months. In company news, shares of Boeing Co. rose 11% as investors anticipate the aerospace company will be a major beneficiary of the bill.
Source : Marketwatch