S&P 500 index rises for second session

US, WASHINGTON (ORDO NEWS) — The US S&P 500 index rose Wednesday, completing the second consecutive session in positive territory for the first time since February 12, amid expectations that the US Senate would approve $ 2 trillion incentive measures.

After the session, the Senate unanimously supported the package of measures. The House of Representatives is due to vote the bill on Friday.

The congestion package that will be the largest Congressional ever adopted includes a $ 500 billion fund to help seriously affected industries and a comparable amount for direct payments of up to $ 3,000 million to American families.

“Fiscal and monetary stimulus has allowed the market to recover,” said Justin Hugendurn of Piper Jaffray. – This is not because small traders are returning. This institutional community can say: “The world is not falling apart.”

The Dow Jones Industrial Average rose 2.39% to 21.200.55 points, the S&P 500 – 1.15% to 2.475.56 points. Nasdaq Composite fell 0.45% to 7.384.30 points.

Since the February peak, the S&P 500 has lost about 27%, or more than $ 7 trillion of capitalization.

Papers Boeing Co soared 24% after the sources said that the company plans to resume production of 737 MAX airliners by May after stopping for several months after the ban on flights after a series of accidents.

Over the past three sessions, Boeing shares have jumped almost 70%, but since mid-February, the company has lost more than half of its capitalization.

Apple Inc shares fell 0.55% after Nikkei reported that the company may postpone the launch of its 5G iPhone smartphone.

Securities of cruise ship operators Royal Caribbean Cruises and Norwegian Cruise Line Holdings jumped by about 23%. These companies were among the firms hardest hit by the pandemic.

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The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.