Thursday, March 23, 2023
Home   >   Economy   >   Global Market Square

Global Market Square

By on December 28, 2020

Trump signs $900 billion Stimulus funding bill and fuels Global Stock Rally

Presented by Birling Capital Advisors, LLC.

The Global & U.S. stock markets rose on the news that President Donald Trump had signed into law the new stimulus funding bill totaling $900 billion. 

The Stimulus bill includes the following dispositions.

  • Stimulus Checks – $600 per person 
  • Jobless Benefits – extend unemployment benefits up to $300 per week until March 14.
  • Relief for businesses – approximately $284 Billion. 
  • Relief for the entertainment industry – $15 Billion.
  • Economic Injury Disaster Loans – $20 Billion.
  • Emergency Rental assistance – $25 Billion.
  • Vaccines purchases – $20 Billion.
  • Vaccine distribution – $8 Billion.
  • COVID-19 Testing – $20 Billion.
  • School funding (colleges and schools) $82 Billion.
  • Child Care Assistance – $10 Billion.
  • Transportation – $45 Billion.
  • Broadband access – $7 Billion.
  • Nutritional assistance, agricultural and rural programs – $26 Billion.
  • Border Wall – $1.4 Billion.

The European markets also delivered broad gains, with Germany’s Dax index gaining 1.5%, its record high reached in February 2020 just before the pandemic shook global financial markets. 

Wall Street summary for December 28, 2020,

  • The Dow Jones Industrial Average closed 30,403.97, up 204.10 points, or 0.68%.
  • The Standard & Poor’s 500 closed at 3,735.36, up 32.30 points or 0.87%.
  • The Nasdaq Composite Index closed at 12,899.48, up 94.69 points, or 0.74%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,032.04, down 7.83 points, or 0.38%.
  • The U.S. Treasury 10-year note closed at 0.94%
  • The U.S. Treasury 2-year note closed at 0.13%

You must be logged in to post a comment Login