US stocks close at record highs as markets cheer $900 billion stimulus
- Date: 29-Dec-2020
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
US stocks close at record highs as markets cheer $900 billion stimulus
Xinhua/Wang Ying/ Getty Images
US stocks closed at record highs on Monday as investors cheered a $900 billion stimulus package that President Donald Trump signed on Sunday.The package includes $600 stimulus checks, expanded unemployment benefits, and more funding for the Paycheck Protection Program.The House of Representatives is set to vote on Monday night on a measure to increase the size of the checks to $2,000, which Trump has advocated in recent days.Watch major indexes update live here.
US stocks closed at record highs on Monday as investors welcomed a $900 billion round of fiscal stimulus.
The bill, which President Donald Trump signed on Sunday, includes $600 stimulus checks, expanded unemployment benefits, and more funding for the Paycheck Protection Program for small businesses.
The House of Representatives is set to vote on Monday night on a measure to increase the size of the checks to $2,000, which Trump has advocated in recent days.
Senate Minority Leader Chuck Schumer tweeted on Sunday: "The House will pass a bill to give Americans $2,000 checks. Then I will move to pass it in the Senate. No Democrats will object. Will Senate Republicans?"
Here's where US indexes stood after the 4 p.m. ET close on Monday:
S&P 500: 3,735.36,