US stocks pare some gains, but close higher

Economies.com
2020-10-20 21:49PM UTC

The major US stock indices rose on Tuesday, but trimmed their gains despite continued optimism about the second Covid-19 stimulus package in the US.

 

News agencies reported that US Treasury Secretary Steven Mnuchin will meet with several Congress members both Republicans and Democrats to pave the way for an agreement on the second fiscal aid package.

 

Data showed today that the US housing starts index rose by 1.9% to 1.415 million units during September.

 

To the oil market, WTI crude November futures at Nymex rose by 1.6%, to close at $41.70 a barrel, after hitting a high of $41.70 and a low of $40.2.

 

Brent December futures rose 1.3% to $43.16 a barrel, with a high of $43.8 and a low of $42.1.

 

As for stocks, Dow Jones rose 0.4% or 113 points to close at 28,308, after it hit a day high 28,575 and a low 28,243.

 

Nasdaq rose 0.3% or 37 points to 11,516, with a high 11,632 and a low 11,471.

 

S&P 500 rose 0.5% or 16 points to 3,443, after hitting a high of 3,476 and a low of 3,435.

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