The Dow jumped 350 points after Trump signed executive orders to extend the coronavirus relief by skleb1234
The stock market finished higher on Monday, as coronavirus stimulus talks remained deadlocked and President Trump signed several executive orders over the weekend to extend economic relief to Americans amid the pandemic.The Dow Jones Industrial Average was up 1.3%, over 350 points, on Monday, while the S&P 500 rose 0.3% and the tech-heavy Nasdaq Composite lost 0.4%.
Boeing and Nike were among the best-performers in the Dow, while transportation stocks also surged. Shares of Big Tech companies like Microsoft, Netflix and Facebook led the market’s declines, dragging the Nasdaq lower.after federal data showed air travel returning to its highest level in nearly five months: American, Delta and United Airlines all jumped by between 7% and 10%.
After coronavirus stimulus talks between Democrats, Republicans and the White House ended in a stalemate last week, President Trump on Saturday signed several executive orders to extend economic relief programs. The orders would expand federal unemployment benefits—at a reduced rate of $400 per week, defer student loan payments through 2020, extend a federal moratorium on evictions and provide a payroll tax holiday.
Trump’s executive action was met with criticism from both parties and is likely to face legal challenges, since continuing the programs would require federal funding from Congress.Chinese-owned social media app TikTok, although Microsoft is still seen as the most likely candidate to close a deal. on Monday amid news that the company’s $765 million federal loan will be put on hold as regulators look into allegations of wrongdoing.Market sentiment also took a hit from ongoing U.S.
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