New York Stock Market Closes Higher Despite Trump's 'Mongni'

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed strong despite President Donald Trump's threat to veto the economic stimulus bill.

On the 23rd (local time), the Dow Jones Industrial Average rose 114.32 points (0.38%) to close at 31,129.83, the S&P 500 index increased 2.75 points (0.07%) to 3,690.01, and the Nasdaq index fell 36.80 points (0.29%) to 12,771.11.

All three major indices rose together for the first time in a while. The S&P 500 index rose for the first time in four trading days, and the Nasdaq hit a new intraday record high again.

Tesla's stock price, which had fallen for two consecutive days after being included in the S&P 500, rose 0.88%. Apple, which had been strong on reports of preparing to launch an electric vehicle, fell 0.7%.

Hydrogen truck maker Nikola plunged 10% due to news of canceling its garbage truck development.

The market focused on the fact that despite President Trump's threat, the economic stimulus bill will eventually be implemented, and that President-elect Joe Biden also hinted at pursuing an additional economic stimulus bill. News that Brexit negotiations between the UK and the European Union (EU) were nearing a deal also fueled the stock market rise.

West Texas Intermediate (WTI) crude oil for February delivery rose 2.3% ($1.10) to close at $48.12 per barrel. February delivery gold closed at $1,878.10 per ounce, up 0.4% ($7.80).

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