On Monday, the New York Stock Exchange ended in fragmented order, following record highs on Friday in the four main indexes. The Dow Jones and the S&P 500 were up close on Monday, while the Nasdaq finished at a fresh record high. Investors are looking to Congress, which is negotiating a new package of more than $900 billion to help the U.S. economy. On the health front, minds are split between the expectations created by the future vaccination program and the outbreak of coronavirus seen in the United States in the short term.
The Dow Jones gave up 0.49% to 30,069 points at the close, saving 30,000 points, while the S&P 500’s large index dropped 0.19% to 3,691 points. Rich in technology and biotech stocks, the Nasdaq Composite index rose 0.45 percent to 12,519 points, a new high. Finally, after its record high on Friday, the Russell 2000 index, which represents small stocks, decreased marginally by -0.13 percent to 1,891 points.
The DJIA added 1% last week, the S&P 500 rose 1.7% and the Nasdaq gained 2.1%. The three indices have risen 5 percent, 14 percent and 40 percent respectively since the beginning of the year, despite their 30 percent fall during the first wave of the Covid-19 pandemic in March-April.
On the other hand, investors were wary on Monday of the trade tensions between China and the United States which once again continue to intensify. In response to Chinese policy in Hong Kong, according to Reuters, the United States is planning economic sanctions against a dozen additional Chinese officials. Washington blacklisted four more Chinese firms from the Pentagon late last week, preventing U.S. investors from acquiring stock of those businesses. China’s new international trade statistics on the macro-economic front bode well for the global economic recovery. In November, Chinese exports increased by 21 percent, including a 10% rise to the United States.