U.S. stocks moved higher at the start of trade Thursday, following the Senate’s approval the massive stimulus bill late Wednesday night. The Dow Jones Industrial Average DJIA, +6.37% rose about 445 points, or 1.9% to trade at 21,684, the S&P 500 index SPX, +6.24% gained 46 points, or 1.8% to roughly 2,520 and the Nasdaq Composite index COMP, +5.59% added 118 points, or 1.5% to trade at around 7,497. The bill authorizes direct payments of up to $1,200 per adult and $500 per child, while setting up a fund for loans to small businesses and another to provide help to industries, cities and states. The gains give the major benchmarks a chance to close higher for three straight sessions, a feat not accomplished in more than two months. In company news, shares of Boeing Co. BA, +13.74% rose 11% as investors anticipate the aerospace company will be a major beneficiary of the bill.
Stocks rally as investors parse $2 trillion coronavirus relief package
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