American shares grew as markets expect Congress to approve another stimulus package

A stimulus package ready to be approved by the Congress is worth nearly $500 billion

As the government is expected to accept the package, Wall Street shares grew during Wednesday.

A nearly $500 billion stimulus package should support mainly small and medium-sized business facing problems due to coronavirus. The package has been passed by the Senate, and the House of Representatives should decide about it on Thursday.

Dow Jones index grew in 2%, S&P 500 index added 2,3% and tech Nasdaq index rose in almost 3%. Yet, the key S&P 500 still appears roughly 17% below its February record-high value.

According to analysts, the upcoming result season will be interesting to watch as companies will publish their quarterly financial results. Their reports will tell more about coronavirus pandemic effects and stability of each company. Even so, some companies may perceive the current pandemic rather positive – e.g. companies in pharma sector or businesses providing online technologies.

EditorialTeam

The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

See Full Bio