Pelosi "Optimistic About Stimulus"
Intel, Having Sold NAND Flash, Shows Weakness
[Asia Economy New York=Correspondent Baek Jong-min] Major indices on the New York Stock Exchange closed higher on expectations of a fiscal stimulus package agreement.
On the 20th (local time), the Dow Jones Industrial Average rose 113.37 points (0.40%) to close at 28,308.79, the S&P 500 index gained 16.20 points (0.47%) to 3,443.12, and the Nasdaq index increased 37.61 points (0.33%) to finish at 11,516.49.
On this day, the Dow showed strength, rising more than 300 points intraday, as attention focused on the agreement in negotiations for a new stimulus package between House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin. This day marked the last proposed negotiation settlement before the presidential election presented by Speaker Pelosi.
During the session, Speaker Pelosi said, "Both sides are getting closer," expressing optimism about the possibility of a stimulus agreement, which raised expectations.
Intel, which agreed the day before to sell its NAND flash business to SK Hynix for $10 billion, turned to a decline of around 2%.
Video company Netflix fell 1%, but after-hours trading saw a 5% drop amid evaluations that its earnings report released after the market close fell short of expectations.
Apple rose by about 1%, but Tesla showed a decline of around 2%. Despite the U.S. government's antitrust lawsuit, Alphabet, Google's parent company, experienced gains of about 1%.
West Texas Intermediate (WTI) crude oil for November delivery closed at $41.46 per barrel, up 1.5% ($0.63) from the previous day. December delivery gold closed at $1,915.40 per ounce, up 0.2% ($3.70).
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