US markets close higher on relief bill hopes
Major equity indexes in the United States finished the first trading session of the week significantly higher after Treasury Secretary Steven Mnuchin said that there was still a chance for another round of coronavirus stimulus. Meanwhile, Washington banned imports of products from China’s Xinjiang province due to “forced labor issues.” Oracle Corp. confirmed it reached an agreement with ByteDance Ltd. over the management of its TikTok app in the country.
The Dow Jones Industrial Average jumped 1.18% at the closing bell. American Express Co. was the best performer, increasing 3.76%. The Nasdaq 100 gained 1.72%, as Seattle Genetics surged 14.55% after the news Merck & Co. Inc. will invest $1 billion into its cancer treatments. The S&P advanced 1.27%, with Apartment Investment & Management Co. rose 7.09%.
The euro grew 0.15% against the dollar to sell for $1.18630 at 3:59 pm ET.
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