Economy

Wall Street opens slightly higher after Donald Trump's coronavirus relief orders

Wall Street opens slightly higher after Donald Trump's coronavirus relief orders”

The Dow Jones Industrial Average rose 357.96 points, or 1.3%, to 27,791.44. The S&P 500 index was up 17.09 points at 3,377.56, while the Nasdaq composite was up 4.06 points at 10,972.42. The Nasdaq Composite was down 14.96 points, or 0.14%, at 10,953.40. The blue-chip gauge was up more than 300 points at its session high.

U.S. stocks closed lower on Tuesday (Aug 11), with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.

Advancing issues outnumbered decliners by a 2.19-to-1 ratio on the NYSE and by a 1.45-to-1 ratio on the Nasdaq.

"The newsflow was very quiet with no progress in Washington on stimulus talks and little economic releases elsewhere, but markets remained in a positive mood betting on the fact that the worst of COVID-induced slowdown was behind us and that the economy was going to rebound strongly into the end of the year", said Boris Schlossberg, managing director of FX strategy at BK Asset Management, in a note.

The lack of progress in coronavirus relief bill negotiations in the U.S. keeps stocks' gains limited.

Providing some support, U.S. President Donald Trump signed executive orders that partly restored enhanced unemployment benefits after talks between the White House and top Democrats in Congress about fresh stimulus broke down last week.

Value stocks, which tend to outperform growth coming out of a recession, have gotten a lift in recent days. The index was down about 0.1%. The core PPI (excluding volatile food and energy items) rose 0.3% in July compared to 0.1% in the previous month.

More news: Tesla Shares Go Into Overdrive After Five-For-One Stock Split

Shares of electric-car maker Tesla Inc.

Casinos' and cruise liners' shares extend rally on Tuesday.

Brinker International Inc. (EAT) the parent of Chili's and Maggiano's restaurant chains, rose 3% after reporting a narrower-than-expected fiscal fourth-quarter loss and announcing an upbeat outlook for the following quarter.

Hotels, cruise operators and airlines were among the big gainers.

How are other markets trading?

Dow up 1.18%, S&P up 0.46%, Nasdaq down 0.14%. Bond prices move inversely to yields. Crude-oil prices climbed, with USA benchmark futures (CL) advancing 1.6%. The dollar index rose 0.037%, and the Japanese yen weakened 0.51% versus the greenback at 106.50 per dollar.



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