The main Wall Street indices climbed this Thursday in the hope of more economic stimulus that until now always end up not showing up, but the gains were not enough to mark the day on the positive side, because the negative news was enough.
The Dow Jones increased 52,57 points, or 0,2%, to 26.815,7 points; the S & P 500 gained 8,84 points, or 0,27%, to 3.245,76 points; and Nasdaq added 43,86 points, or 0,41%, to 10.676,84 points. In the middle of the day, Dow Jones was earning a lot more, but ended up giving in the second part of the afternoon.
The Federal Reserve spoke this week about the importance of further fiscal stimulus amid investor fears of another economic blow sponsored by the coronavirus pandemic. Weak labor market data on Thursday made that need evident. But investors cannot complain: despite these data, the indices held up - which usually respond in the negative.
A report made known by the Wall Street Journal that Democrats in the House of Representatives are preparing a $ 2.400 billion stimulus package cheered up the market. The same was true of statements by Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin, who said that hundreds of millions of dollars in unused coronavirus aid funds could be reallocated to help families and businesses .
The largest listed companies on the Wall Street in the technology sector performed well, which ended up limiting late declines in the indices.
"Investors are going to need stocks that can withstand a lower economic growth path because, if we don’t have new fiscal stimulus decisions, there won’t be much more we can do to continue driving the economic recovery," said Max Gokhman, capital market manager for Pacific Life Fund Advisors, quoted by Reuters.