US markets finish up after Fed Beige Book release

Wednesday, 02. December 2020 22:00

Major United States stock indexes ended Wednesday's trading session slightly higher after the Federal Reserve said most districts reported "modest" or "moderate" economic expansion since October. However, President of the bank's New York subsidiary John William warned that the country is still in a "very deep recession." Meanwhile, Democrats and Republicans reached an agreement on the defense funding bill for the next fiscal year, while the issue of coronavirus stimulus remains unresolved.

The Dow Jones Industrial Average was 0.20% higher at the closing bell. Boeing Co. was the best performer, growing 5.09%. The Nasdaq was barely above the flatline, with Pinduoduo Inc. jumping 5.51%. The S&P 500 gained 0.18% as NetApp Inc. surged 9.36%.

The euro climbed 0.24% against the dollar at 3:59 pm ET to change hands for $1.21009.

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Author:
Breaking the News / MD