Major Indices ended up higher led by Nasdaq and S&P 500, market wraps up
US stock market moving sharply bouncing up as it rallies first Monday of March, getting back some of its losses from last month's kicks. The vaccine has help boost the market optimism with investors looking forward to the economies recovery.
Nasdaq Composite outperformed bagging almost 400 points or 3% gains in today's market session. S&P 500 also ended up higher with more than 2% increase while the Dow is up with less than 2%.
US Treasury yield fell below from last week's surge amidst selloff even with the reports that the House of Representatives has passed President Joe Biden's $1.9 Trillion stimulus package late Saturday.
The $1.9 Trillion stimulus package includes $1,400 for most Americans. It will be given as staggered, $400 a week in augmented federal unemployment insurance and $350 billion in state, local and tribal government relief, among other measures.
Precious metal such as Gold and Silver under commodities has also dropped after investors sees potential in Crypto Currency, especially Bitcoin which they see as the most precious digital coin in the market today. Some or most of investors have shift from Gold to digital currency as the look for more profitable way to grow their investments.
Posted below are the main movements in the Stock Market;
- Dow Jones Industrial Average rose with 603.21 points or 1.95% to 31,535.58
- Nasdaq Composite gained 396.48 points or 3.01% to 13,588.83
- 10-year Treasury note fell to 1.429%
- 30-year Treasury bond rose to 2.199%
- Gold dropped about $9.66 or less than 1% to $1,724.94 an ounce
- Silver declined less than a dollar or less than 1% to $26.53 an ounce
- West Texas Intermediate crude dropped less than a dollar or 1.40% to $60.64 per barrel
- Brent crude also fell less than a dollar or 1.13% to $63.69 per barrel
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