Wall Street opens higher with hopes of stimulus

US, WASHINGTON (ORDO NEWS) — The New York Stock Exchange opened higher Friday but below the levels promised at the start of the day by futures contracts, a cautious rebound favored by the multiple monetary and budgetary support measures announced in recent days.

A few minutes after the start of trading, the Dow Jones index gained 263.96 points, or 1.31%, to 20,351.15 and the Standard & Poor’s 500, wider, rose 1.1% to 2,435.94.

The Nasdaq Composite gained 1.59% to 7.264.55 points at the opening.

This increase, however, only limits the heavy losses suffered this week, of the order of 10% for the moment for the S & P-500 after -8.8% last week.

China is preparing, sources say, to unveil a 1,000 billion yuan (131.4 billion euros) economic support plan, and Germany plans to set up a 500 billion business support fund billion euros according to the weekly Der Spiegel.

In the United States, the White House and Congress continue to discuss stimulus packages that could reach $ 1 trillion in total and include direct checks to taxpayers.

Among the values ​​directly concerned by the project, the airlines, which could benefit from massive aid, are up sharply United Airlines takes 11.61%, American Airlines 6.41% and Delta Air Lines 9.44%.

Boeing (NYSE: BA ), which has seen its market value drop by around 70% since the start of the year, gained 4.17%.

The session will be marked among others by the “four witches”, the simultaneous expiration of options and futures on stocks and indices.

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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.