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The Dow continued to rally today. More than 300 points recently in response to a drop in US Treasury yields and progress in issuing US economic stimulus measures.
At 12.31 GMT, the Dow Jones Industrial Average stood at 32,143.19 points, 340.75 positive points or 1.07%.
Yields on the 10-year US Treasury bonds weakened to 1.528 percent today after hitting 1.6 percent yesterday.
US tech stocks rallied today. Following the weakening of US government bond yields.
The office of the Majority Leader of the United States House of Representatives, Stani Hoyer. It issued a statement stating that the House of Representatives has received a $ 1.9 trillion stimulus bill from the Senate. The House of Representatives will consider and vote on the bill tomorrow.
Earlier, the source stated that the US House of Representatives can vote on the bill starting today.
If the US House of Representatives passes this bill It will be referred to President Joe Biden for signing into law by March 14, the date current unemployment relief measures will expire.
US Treasury Secretary Janet Yellen said Biden’s $ 1.9 trillion stimulus package would provide the US government with enough resources to roll back the economy forcefully. And it will bring U.S. employment back to pre-COVID-19 levels for next year.
Investors also watched the Federal Reserve’s Monetary Policy Conference on March 16-17 to see the Fed’s stance on a spike in inflation due to US economic stimulus measures. Including rising yields on US government debt.
