Stocks hit new highs as Trump signs stimulus package

Stocks hit new highs as Trump signs stimulus package

The final week of 2020 started with the major U.S indices hitting records after President Trump signed a $2.3 trillion spending bill that includes nearly $1 trillion of coronavirus relief.

USA30 ended Monday’s trading up 204 points, or 0.68%, while TECH100 surged 0.87%, and USA500 climbed 0.74%. Apple, Walt Disney, Visa, Facebook, and Amazon led the pack, all of them adding at least 3%.

Note that gains in Apple, Amazon, and Microsoft accounted for more than half of the S&P 500's 16.6% total return as of Dec. 16. Furthermore, the technology sector, along with shares of big tech-related companies - Amazon, Google, and Facebook - accounts for approximately 37% of the S&P 500.

Elsewhere on the Asian markets, Japanese stocks hit a 30-year high, as investors were encouraged by the Brexit trade deal and the U.S. pandemic relief package. At the end of Monday’s trading session, Japan225 jumped by 2.4% to its highest since August 1990.

Sources: reuters.com, thestreet.com.

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