US stocks close at record high on stimulus hopes, economic recovery | NZ Market Update

US stocks close at record high on stimulus hopes, economic recovery

• The three major US stock indices closed at record high levels on Monday amid hopes around additional coronavirus stimulus and economic recovery.

• While the Dow Jones Industrial Average closed higher by 237.52 points, or 0.76 per cent, to 31,385.76, the S&P 500 gained 28.76 points, or 0.74 per cent, to 3,915.59. The NASDAQ Composite settled 131.35 points, or 0.95 per cent, to 13,987.64.

• Walt Disney, Cisco Systems and General Motors closed higher between 1.79 per cent and 4.9 per cent ahead of their earnings this week. Dogecoin Roars On Elon Musk & Snoop Dogg Tweets

• Dogecoin rocketed to an all-time high over Elon Musk’s tweet, which featured its mascot Shiba Inu dog.

• It recorded a new high of US$0.087159 per unit, with a 37 per cent rise on Monday, February 8.

• Social media users estimate that dogecoin can hit US$1 per unit, which is still more than 1,000 per cent away from this projected target. Bitcoin Hits Record $44,500-Mark On Tesla’s $1.5-Billion Investment

• Tesla has invested US$1.5 billion in Bitcoin.

• The electric vehicle maker will accept the crypto token as a form of payment for its cars going forth.

• Bitcoin jumped by over 15 per cent to hit an all-time high of US$44,500 on Monday.

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