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Stocks hit new highs as Trump signs stimulus package

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Miguel A. Rodriguez
Miguel A. Rodriguez
29 December 2020
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.

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.