Due to the health situation in Europe, the U.S. stock market picked up over the trading minutes on Monday in the bright red at the opening to return to the green on the Doe Jones and eventually gain 0.12 percent to 30,216 points. Once again, the large index of the S&P 500 decreased marginally by 0.39% to 3,695 points, while the Nasdaq Composite index, which is rich in technology and biotech stocks, returned 0.10% to 12,742 points.
Although the vaccination campaign continues throughout the Channel, the rapid worsening of the health situation in Britain nevertheless placed the agreement between Republican and Democratic leaders on Monday on a new strategy to help the United States. After the $2.3 trillion budget passed by Congress last March, the proposal will be one of the biggest in history.
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The variant of Covid-19, which frightens Britain, has caused the big European countries to close their borders with the United Kingdom for at least 48 hours, complicating the already unstable situation in the run-up to Brexit. The situation also caused the old continent to sink in the picture with Paris Stock Exchange, Frankfurt and Amsterdam dropped by an average of 2 to 3 percent.
On the Wall Street on Monday, U.S. banks stand out with JPMorgan Chase & Co. (JPM) rose by 3.75 percent to $123.55, The Goldman Sachs Group, Inc. (GS) jumped 6.13 percent to $250.98, Bank of America Corporation (BAC) surged 3.73 percent to $29.74 and Morgan Stanley (MS) risen 5.69 percent to $67.83 on Monday. The Fed’s last Friday announcements allowed banks to resume share buybacks on Friday under certain conditions and to continue minimal dividend payments in light of the results of the year’s second stress tests that showed months of reserve building had enabled financial institutions to guard against the economic downturn.