Wall Street began December on the right foot after gains of 11 percent to 12 percent for its key indices in November, with the Nasdaq and the S&P 500 ending at new highs, while the Dow Jones is approaching the highs of last week. The announcement of a meeting Tuesday between Democratic House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin and the unveiling of a new bipartisan Senate bill rekindled expectations for a new budget support package.
At the close, the Dow Jones gained 0.63 percent to 29,823 points, after touching 30,083 points at the session peak, above its record last Tuesday (30,046 points). The S&P 500’s large index rose 1.13% to 3,662 points, a new high, and the Nasdaq Composite, rich in stocks in technology and biotech, climbed 1.28% to 12,355 points, a new record there as well.
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In November, with jumps of 11.8% for the DJIA and the Nasdaq and 10.7% for the S&P 500, all three indices had their strongest month since 1987 (in the aftermath of the crash of the same year). All the world stock exchanges expressed this excitement, related to the expectation of solving the health crisis with anti-Covid vaccines as the MSCI World Index jumped 13 percent in November, the highest monthly rise ever achieved.
Amazon revealed on Tuesday that between Black Friday and Cyber Monday, sales of independent retailers on its website had reached 4.8 billion, up more than 60 percent year-on-year. Significant growth news at its platform push the Amazon.com Inc (AMZN) stock to saw a rise of 1.64 percent on Tuesday which brought its shares price to $3220.08 at close of the trading.
According to Adobe Analytics, number of online transactions may have hit $11.4 billion on Cyber Monday, the biggest online shopping day in history. This year, U.S. customers spent $9 billion on Black Friday, which was already a record for the promotional day after Thanksgiving.