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Old 08-03-2021, 22:17
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KostiaFM KostiaFM is offline
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Default Re: Daily Economic news by ForexMart

March 8. US stock markets open in the red

Investors are encouraged today that the Senate passed President Joe Biden's $ 1.9 trillion stimulus bill this weekend. Minor amendments were made to the bill, reducing unemployment benefits from $ 400 to $ 300. He must now return to the House of Representatives, which will approve the revised version and finally unlock the funds.

The approval of the bill to stimulate the economy further contributed to the growth of US Treasury bonds, which, in turn, negatively affects the stock indices. The Nasdaq 100, S&P 500 and Dow Jones all started trading in the red today due to low investor interest in the stock at the moment.

Stocks in China are also declining in light of last week's announcement of a lower-than-expected growth outlook. This signals to the markets that the government may withdraw some stimulus from its economy to offset the growth in borrowing.

Oil prices continued to rise after OPEC + agreed not to increase its quotas in April last week. In addition, there has been an attack on Saudi Arabia's oil facilities, although the country has reported that production is unlikely to be affected. Nevertheless, oil managed to rise above $ 70 a barrel.
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