- US stocks rose on Wednesday after the White House and Senate reached an overnight agreement on a $ 2 trillion aid package.
- The bill includes payments for Americans, extensions to unemployment benefits, and loans for companies affected by the economic downturn.
- Profits follow the best day of the Dow Jones industry average since 1933. The benchmark rose 11% in Tuesday's session as investors bet on a short-term deal for new fiscal incentives.
- See how the major indices are updated live.
US stocks rose Wednesday after the White House and Senate reached an agreement overnight on an aid package to combat the economic impact of the corona virus.
The $ 2 trillion aid package is designed to expand unemployment benefits, pass funds to hospitals and healthcare workers, provide emergency loans to small and large businesses, and issue checks for Americans. The bill includes payments of $ 1,200 to adults and $ 500 to each child.
Around $ 50 billion will be allocated to airline loans, an industry particularly hard hit by the pandemic and a sudden stoppage in travel.
Here were the most important US indices shortly after the opening of the ET market on Wednesday at 9:30 a.m .:
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Profits follow the best day of the Dow in 87 years. The benchmark rose 11% on Tuesday as a fiscal deal approached. The Federal Reserve has Financial support already spent through interest rate cuts, asset purchases and new credit facilities.
The Senate stimulus package will put the money more directly in the hands of sick companies and consumers as the outbreak harbors a short-term economic recession.
The oil was trading lower on Wednesday morning after falling lower in the previous session. The commodity has been under pressure in the past few weeks as Saudi Arabia and Russia flooded the market with new stocks and drove prices near lows of two decades.
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