U.S. equity markets were mixed Friday morning after details of President-elect Joe Biden’s proposed $1.9 trillion COVID-19 relief package underwhelmed investors and the big banks kicked off earnings season.
The Dow Jones Industrial Average was trading lower by 181 points, or 0.59%, while the S&P 500 was weaker by 0.25% and the Nasdaq Composite was up 0.17%.
Biden’s proposed package includes a $1,400 check to individuals and provides a temporary boost in unemployment benefits while also providing funding for the distribution of COVID-19 vaccines, among other things.
Looking at stocks, Walmart in focus after announcing the head of its e-commerce unit Marc Lore will be stepping down at the end of the month. Lore, who founded Jet.com before joining the retailer, has been the point person in developing strategies to compete against Amazon.
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11.24.2024