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US markets end higher in Tuesday

16 Dec 2020 Evaluate

The US markets ended higher on Tuesday amid unrelenting optimism lawmakers will eventually agree on a new fiscal stimulus bill. Sentiments got boost following reports that House Speaker Nancy Pelosi has scheduled a meeting with other congressional leaders to discuss a relief package. Pelosi is due to meet with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy, while Treasury Secretary Steven Mnuchin will participate by phone. Pelosi’s Deputy Chief of Staff Drew Hammill noted on Monday the Speaker and the Treasury Secretary spoke by phone and discussed the urgency of the committees finishing their work as soon as possible.

On the economic data front, partly reflecting a continued increase in manufacturing output, the Federal Reserve released a report showing US industrial production rose by slightly more than expected in the month of November. The report said industrial production climbed by 0.4 percent in November following a downwardly revised 0.9 percent advance in October. Street had expected industrial production to rise by 0.3 percent compared to the 1.1 percent jump originally reported for the previous month. The Fed said manufacturing output increased for the seventh straight month, advancing by 0.8 percent in November amid a 5.3 percent spike in motor vehicles and parts production.

Dow Jones Industrial Average rose 337.76 points or 1.13 percent to 30,199.31, S&P 500 gained by 47.13  points or 1.29 percent 3,694.62 and Nasdaq surged 155.02 points or 1.25 percent to 12,595.06.


About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

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Our Approach: Ensuring compounding work its magic on client portfolio.

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