Bay Area stocks put in a mixed performance Wednesday as the
market closed with broad gains that were pared down in late trading
while a few senators debated some provisions of the proposed $2
trillion economic stimulus package.
The Dow Jones Industrial Average, which was up by more than
1,100 points late in the trading session, had its sails trimmed
before closing with a gain of 495.64 points, or 2.4%, at 21,200.55.
With the Dow rising 2,113 points on Tuesday, it was the first time
the Dow notched back-to-back days of gains since February.
The S&P 500 rose by 1.2%, to close at 2,475.56, while the
Nasdaq Composite Index slipped by 0.5%, to 7,384.29.
There had been hopes that the Senate would vote on the stimulus
plan that is aimed at alleviating some of the effects that the
coronavirus pandemic has had on the economy. But, it appeared that
any such deal would be put off at least until Thursday. Sen. Bernie
Sanders said he was prepared to put a hold of the deal’s vote
unless some Republican senators dropped their opposition to a
provision that would add $600 a week to unemployment insurance for
up to four months.
Among local companies, Tesla shares climbed by 6.8%, to close at
$539.25, Hewlett Packard Enterprise rose by 5%, to $9.39 and
Twitter edged up by 0.5% to close at $25.97.
But other leading companies from around the region failed to
join the day’s overall upbeat performance.
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Apple shares gave up 0.6%, to end the day at $245.52. On Wednesday
afternoon, Apple Chief Executive Tim Cook tweeted a video in which
he said his company has been able to source, and will donate 10
million face masks to healthcare workers in the U.S.
Facebook fell almost 3%, to $156.21 a share, Intel shares shed
2.2%, to close at $51.26, Cisco Systems fell by 2.4%, to $37.67 a
share and Netflix fell by 4.2%, to $342.39.
Source: FS – All – Interesting – News 2
Coronavirus: Tesla scores as investors await final vote on economic stimulus plan