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Summary
- The rally following the news of the upcoming US aid package saw major stock exchanges of the S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite hit record highs on Monday.
- Gold prices recorded a jump of about 0.3 per cent, hitting a mark of US$ 1,879.15 per ounce.
- The TSX Composite Index, meanwhile, recorded a decline of about 0.3 per cent on Tuesday early trade hours.
The recently approved trillion-dollar stimulus package in the US saw equity futures and global stocks around the world leap for the fourth day straight on Tuesday, December 29.
Stock futures in the United States pointed to a rise of 0.5 per cent on Tuesday morning, triggered by the House voting in favor of raising the stimulus checks to US$ 2,000. The optimism also led to a spike in oil prices with Brent crude futures as well as the US West Texas Intermediate (WTI) jumping about 0.9 per cent, at the time of filing this story (around 9:52 am CST). Natural Gas was up by over 3.57 percent.
The S&P 500 index added 1.8 per cent on Tuesday morning, pointing at gains for the second day in a row. The rally following the news of the US aid package saw major stock exchanges of the S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite hit record highs on Monday, December 28.
The TSX Composite Index, meanwhile, recorded a decline of about 0.3 per cent on Tuesday early trade hours (around 10 am ET). However, the TSX Venture Composite Index was up by 1.5 per cent.
Gold prices are up about 0.3 per cent, hitting a mark of US$ 1,879.15 per ounce.
The MSCI World Index also saw its rally extend early on Tuesday, up by about 0.66 per cent.
©Kalkine Group Image
The Financial Times Stock Exchange (FTSE) 100 Index registered a growth of over 1.95 per cent early on Tuesday (at 3:24 pm GMT) and is heading for its fourth consecutive day of gains, fueled majorly by increased investments in banks and other financial services.
The recent stimulus package was greenlit by US President Donald Trump on Sunday, December 27, which was then back by the House.
Most stock markets in North America, Europe and Asia, including Canada’s main market Toronto Stock Exchange (TSX), remained closed since last Friday for Christmas season and reopened on Tuesday, following Boxing Day off.
