The US stock indices rose during trading on Friday, in light of the optimism prevailing in the markets regarding the financial stimulus package for the economy in the face of the Corona virus.
This comes despite the fact that US President “Donald Trump” announced earlier this week to stop talks between Republicans and Democrats on these stimulus funds to the economy.
Trump decided to postpone it until after the upcoming US presidential elections in November.
In a similar context, Trump affirmed his administration’s endeavor to extend financial aid programs to citizens and also the possibility of providing support to airlines affected by Corona.
The Federal Reserve confirmed in the minutes of its meeting issued this week that there is an economic recovery stronger than expectations during the past few months, but they stressed the economy’s need for more financial support in order to continue the recovery.
In the oil market, US Nymex crude futures for November delivery decreased 1.4%, or 59 cents, and closed the New York session at $ 40.60 a barrel. Crude achieved weekly gains by 9.6%, and recorded the highest price at $ 41.4 and the lowest price at $ 40.6.
Brent crude futures for December delivery fell 1.1%, or 49 cents, and closed the London session at 42.85 dollars a barrel, and crude achieved a weekly gain of 9.1%, and recorded the highest price at 43.5 dollars and the lowest price at 42.8 dollars.
At the close of trading, the Dow Jones Industrial Average rose 0.6% (equivalent to 161 points) to 28587 points, and achieved a weekly gain of 3.3%, reaching the highest level at 28676 points and the lowest level at 28440 points.
The “Nasdaq” rose 1.4% (equivalent to 159 points) to 11580 points, and achieved weekly gains by 4.6%, reaching the highest level at 11581 points and the lowest level at 11476 points.
The “S&P 500” rose 0.9% (equivalent to 30 points) to 3477 points, and recorded a weekly gain of 3.8%, reaching the highest level at 3482 points and the lowest level at 3458 points.
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