Wall Street Starts the Stock Market Month of March With Nice Profits

The stock exchanges in New York started the new stock exchange month of March with decent price gains on Monday.

 

Investor sentiment on Wall Street is buoyed by news that the US House of Representatives has agreed to add $ 1.9 trillion in additional corona emergency aid to the United States economy.

Shortly after opening, the Dow Jones index was 1.6 percent higher at 31,435 points. The broad S&P 500 rose 1.6 percent to 3,871 points, and the Nasdaq technology gauge climbed 1.5 percent to 13,106 points.

President Joe Biden’s corona support package now goes to the Senate, where Democratic Vice President Kamala Harris may have to cast a casting vote. In the Senate, both Republicans and Democrats have 50 seats.

Pharmaceutical Johnson & Johnson (J&J) won 1.3 percent. The American medicine watchdog FDA has given the vaccine from the Leiden pharmaceutical company Janssen, a subsidiary of J&J, emergency approval for the American market.

The Leiden drug’s advantage is that it can be stored in a regular refrigerator, and only one injection is required. The European regulator EMA is expected to approve the vaccine on March 11.

Companies that are very sensitive to the corona crisis’s effects rose on the news around the bailout package and the vaccine. Cruise lines such as Carnival and Norwegian Cruise Line, for example, rose to 5 percent. American Airlines, Delta Air Lines and United Airlines also climbed to 5 percent.