For the Presidents Day holiday, stocks in the US closed at a record high. On Monday, the stocks edged way higher following major indexes that climbed. S&P 500 tied Futures witnessed a hike of 0.4% on the day. It indicated an extension from the muted gains last week. That seemed to skyrocket the market index that is broad to an all-time high back on Friday. The Industrial Average of Dow Jones with the contracts tied with the firm witnessed a surge as well of 0.5%.
Stocks have begun climbing since the beginning of the year. This is following the rollout of the Covid 19 vaccine. Hence, there is a hope to recover the economy. Presidents Day will start the week with Democrats going forward with the almost 2 trillion dollars coronavirus aid by President Joe Biden. Several leaders of the world are also set to join a virtual meet on Friday. These leaders are from the Group Of Seven industrialized nations. Sources confirmed that Monday would be a “quieter day.” She further added that there would be more gains, rising moves.
The Stock In US On Presidents Day
Following Presidents Day, there was a rise in Oil Prices. It reached the highest peak since back in January last year. This was before the global pandemic took over. Analysts have reported that it is still at risk due to dropping temperatures in Texas. There was a 1.4% rise per barrel of Brent. It amounted to 63.31 dollars. 2% was added by the West Texas Intermediate, adding to 60.63 dollars.
But cryptocurrencies also took a hike following Presidents Day. Bitcoin broke its records reaching 49.5k dollars, according to several reports. On Monday, though, it dipped back to 48.3k dollars. Equities in Europe like Vivendi saw a surge of 16% almost. This was following the firm’s announcement of giving away Universal Music’s 60% to its shareholders.
Stocks remained closed on Presidents Day.