The Dow jumped 150 points today as investors wait for more coronavirus stimulus by skleb1234
The market finished higher on Tuesday as companies like Coca-Cola and IBM beat earnings estimates and investors remained on alert for fiscal stimulus updates from U.S. lawmakers.Johannes Eisele/AFP via Getty ImagesThe Dow Jones Industrial Average was up 0.6%, over 150 points, on Tuesday, while the S&P 500 rose 0.2% and the tech-heavy Nasdaq Composite lost 0.8%.
The market opened higher after IBM topped revenue estimates and improved gross margins in the second quarter, while Coca-Cola also beat Wall Street expectations—despite aBut tech stocks lagged throughout most of the day, dragging the Nasdaq into negative territory as big names like Facebook, Amazon, Apple and Microsoft fell.
Market sentiment got a boost after European Union leaders agreed to move forward with a 750 billion euro stimulus package, however: The European Council President called it a “pivotal moment” for Europe. The announcement comes as U.S. lawmakers work on another coronavirus relief bill, with many investors on Wall Street monitoring the progress being made on additional stimulus.
Congress faces mounting pressure to pass more relief before the end of July, which is when the $600 per week federal unemployment insurance benefit will run out.on Tuesday that he doesn’t expect the next coronavirus relief bill to pass before the end of the month, when several key provisions of the $2.2 trillion CARES Act will expire. Oil prices hit their highest levels since March: WTI futures jumped to over $41 per barrel on Tuesday, while Brent crude reached nearly $45 per barrel.
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