US stocks leap to new record high as Donald Trump belatedly signs off £1.7trillion economic relief package
US stocks leapt to a new record high yesterday after Donald Trump belatedly signed off a £1.7trillion economic relief package.
The signing of the bill clears the way for a string of benefits for the unemployed to be extended and for cheques worth $600 (£444) each to be sent to Americans.
Surge: Donald Trump’s relief package cheered US markets, which opened for the first time since Christmas Eve
It also prevents a government shutdown. Yesterday the approval cheered US markets, which opened for the first time since Christmas Eve, with the Dow Jones, the blue chip S&P 500 index and the tech-focused Nasdaq composite all hitting record highs after trading began.
The Dow rose 0.6 per cent or 184.7 points, while the S&P rose by 0.8 per cent and the Nasdaq by 0.9 per cent.
The President stunned political allies and the markets last week when he threatened to veto the stimulus package and branded it a ‘disgrace’.
But by Sunday he backed down and signed the bill. He said: ‘I will never give up my fight for the American people!’