Investing.com - The American Stock Market opened on Tuesday's growth after a long weekend thanks to a reminder of the adherence to the new administration of the economy support, is still strongly weakened due to the COVID-19 pandemic.
The Financial Committee of the Senate intends to conduct hearings to approve the candidacy of Janet Yellen to the post of Minister of Finance. The last time she watched the restoration of the US economy after a major recession from the chairman of the Fed Chairman.
In the comments published in the evening, Jelen's comments emphasized the need to "act in large" in relation to fiscal stimulation, meaning the costs of $ 1.9 trillion expenses laid last week by the team of new president Joe Bayden.
09:35 East time (14:35 Greenwich) The Industrial Dow Jones index has grown by 193 points, or 0.6%, to 31.007 points. S & P 500 also rose by 0.8%, and the NASDAQ Composite index rose by 1.1%. All three indices last week was worse from October due to weak retail sales data and a record high level of COVID-19 infection, which makes doubt on the power of domestic demand.
General Motors shares (NYSE: GM) have reached a new record level after the company announced an investment of $ 2 billion in the initiative to create unmanned cars proposed by the Group of Companies, including Microsoft (NASDAQ: MSFT). Microsoft shares rose by 0.8%.
Goldman Sachs shares (NYSE: GS) fell by 0.3%, despite a report on a sharp increase in trading income by 43%. On the eve of the report of the promotion increased greatly, and last week reached a historical maximum. Paper of other banks also tried to gain momentum after income report: Bank of America shares (NYSE: BAC) increased by 0.2%, State Street shares (NYSE: STT) fell by 3.0%, and Zions Bancorp shares (NASDAQ: Zion) lost 0.1%.
It was optimistic than the news from the oil sector, since the oil-breeding company Halliburton (NYSE: HAL) announced the results that were better than expectations, including free cash flow, which was about 15% higher than forecasts. Jeff Miller's chief executive officer said that in the first quarter of 2021, it expects minimal activity in the world for mining, but is optimistic about the dynamics in North America, where the number of drilling rigs, according to Baker Hughes, has explicitly grown in recent weeks.
TESLA shares (NASDAQ: TSLA) rose by 1.7% after the manufacturer of electric vehicles announced the start of the supply of its Shanghai SUVs Model Y to customers in China.
Author Jeffrey Smith
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