Senate passes plans to push ahead with $1.9 trillion stimulus package
President Joe Biden’s plan to introduce a $1.9 trillion stimulus package to help the US economy get back on its feet from the pandemic has inched closer toward approval after the Senate narrowly approved plans that would allow the Democrats to approve the bill without Republican support.
The 50:50 split Senate was torn on the budget plan yesterday but it was ultimately approved after vice president Kamala Harris casted her deciding vote. It is the first time the Democrats have flexed their slim majority in the Senate since winning control last year.
LONDON MARKET CLOSE: FTSE 100 Shrugs Off Down Day For Miners And BP
Tue, 2nd Feb 2021 16:57
(Alliance News) - The week s rally continued in London on Tuesday, with investors shrugging off a difficult day for miners and oil giant BP, as fears of the retail-Reddit volatility seen last week have dwindled.
The FTSE 100 index closed up 50.23 points or 0.8%, at 6,516.65. The FTSE 250 ended up 297.59 points, or 1.5%, at 20,690.21. The AIM All-Share closed up 17.99 points, or 1.5%, at 1,188.96.
The Cboe UK 100 ended up 0.8% at 648.08, the Cboe UK 250 closed up 1.6% at 18,246.36, and the Cboe Small Companies ended up 0.8% at 12,207.29.
In Paris, the CAC 40 ended 1.9% higher, while the DAX 30 in Frankfurt added 1.3%.
European Market Open: EU vaccine shortage starts to bite
Joshua Warner January 29, 2021 7:19 AM
European markets are expected to open sharply lower this morning as a shortage of vaccines begins to bite, forcing some countries to delay their vaccination programmes. Share:
Vaccines take centre stage today, with the UK set to approve one made by Novavax and the EU expected to give the green light to AstraZeneca’s jab.
EU officials are considering all legal options against vaccine manufacturers to ensure the bloc has enough jabs.
In forex, EUR/GBP sinks to its lowest level since May 2020.
FTSE 100 to open lower
European markets are expected to struggle to find higher ground today, as fears over vaccine supplies and longer lockdowns prompts fears it could take longer for the world to recover from the pandemic.
US Market Open: Holding steady ahead of GDP and jobs data
Joshua Warner January 28, 2021 12:19 PM
US markets suffered their worst fall in three months yesterday and are expected to open slightly higher today ahead of US GDP and employment data being released. Share:
Preliminary GDP data for the US is expected to show the sharpest annual contraction since 1946 and echo theories from the Fed that the economic recovery has slowed down toward the end of the year.
The Treasury is keeping an eye on GameStop and other stocks that have soared in value over the last week.
Apple, Facebook and Tesla will all be in focus after releasing results after the markets closed yesterday.