BUSINESS US stocks finish higher amid energy rally

BUSINESS

US stocks finish higher amid energy rally

Xinhua

08:14, December 31, 2020

NEW YORK, Dec. 30 (Xinhua) -- U.S. stocks moved higher on Wednesday, underpinned by solid gains in the energy sector.

The Dow Jones Industrial Average increased 73.89 points, or 0.24 percent, to end at 30,409.56. The S&P 500 was up 5.00 points, or 0.13 percent, to 3,732.04. The Nasdaq Composite Index rose 19.78 points, or 0.15 percent, to 12,870.00.

Seven of the 11 primary S&P 500 sectors finished in green, with energy and materials up 1.6 percent and 1.34 percent, respectively, outpacing the rest. Communication services slipped 0.74 percent, the worst-performing group.

U.S.-listed Chinese companies traded higher with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

Wall Street continued to assess the possibility of larger U.S. fiscal stimulus.

The Democrats-held House of Representatives on Monday passed a bill to boost the second round of federal direct payments to 2,000 U.S. dollars for individuals, up from the 600 dollars for individuals in the country's new COVID-19 relief package.

The House passed the 2,000-dollar direct payments in a fast-track procedure that needed two-thirds support.

U.S. Senate Majority Leader Mitch McConnell on Tuesday blocked a quick vote on it.

The United States has registered more than 19.6 million confirmed COVID-19 cases with roughly 341,000 related deaths as of Wednesday afternoon, showed a tally by Johns Hopkins University.

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