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Coronavirus: Tesla scores as investors await final vote on economic stimulus plan


Bay Area stocks put in a mixed performance Wednesday as the market closed with broad gains that were pared down in late trading as 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.

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Source:: The Mercury News – Health

      

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