{"id":77892,"title":"U.S. stocks touch record highs, Treasury yields rise on stimulus, Brexit","publisher":"Share Talk","author":"sharetalk","published":"2020-12-28T16:25:03+00:00","modified":"2020-12-28T16:27:25+00:00","canonical_url":"https://www.share-talk.com/u-s-stocks-touch-record-highs-treasury-yields-rise-on-stimulus-brexit/","markdown_url":"https://www.share-talk.com/u-s-stocks-touch-record-highs-treasury-yields-rise-on-stimulus-brexit.md","json_url":"https://www.share-talk.com/u-s-stocks-touch-record-highs-treasury-yields-rise-on-stimulus-brexit.json","category":"Blogs","categories":["Blogs"],"tags":["Barnier","BRITAIN","Brussels","Charles de Gaulle","crude","David Frost","diplomat","Dow Jones","Emmanuel Macron","EU","European Union","eurosceptic","Johnson","NASDAQ","negotiations","Nikkei","stimulus","UK","Ursula von der Leyen"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**NEW YORK (Reuters)** -All three major U.S. stock indexes opened at record highs on Monday, and Treasury yields rose as long-awaited stimulus and Brexit trade deals fueled investors’ risk appetite.\n\nBy [Stephen Culp](https://uk.reuters.com/journalists/stephen-culp)\n\nU.S. equities followed their European counterparts higher in a broad rally, with small- and mid-cap stocks outperforming.\n\nPresident Donald Trump reversed course on Sunday by signing a $2.3 trillion fiscal relief and spending package into law, heading off a potential government shutdown and setting the stage for Democrats in Congress to push for more robust $2,000 direct payments to millions of Americans.\n\n“It’s a positive tone to the U.S. market and part of that is the signing of the stimulus package by Trump, which appeared to be in doubt but has finally been accomplished,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.\n\nBritain reached a trade agreement with the European Union on Thursday, days before leaving one of the world’s largest trading blocs, and urged businesses to prepare for disruptions resulting from the completion of Brexit.\n\n“The Brexit deal is big news, and a big relief because it’s dragged on for such a long time,” Ghriskey added. “And we have a deal that everyone accepts, it’s a good deal for everyone.”\n\nThe Dow Jones Industrial Average rose 292.14 points, or 0.97%, to 30,492.01, the S&P 500 gained 33.39 points, or 0.90%, to 3,736.45 and the Nasdaq Composite added 70.75 points, or 0.55%, to 12,875.49.\n\nEuropean shares enjoyed their fourth straight session of gains following the U.S. stimulus and Brexit trade deals.\n\nThe ongoing rollout of coronavirus vaccines also buoyed sentiment, with Pfizer Inc announcing that it expects to complete distribution of 200 million doses in Europe by September.\n\nMarkets in Britain were closed on Monday in observance of the Boxing Day holiday.\n\nThe pan-European STOXX 600 index rose 0.73% and MSCI’s gauge of stocks across the globe gained 0.59%.\n\nEmerging market stocks lost 0.25%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.17% lower, while Japan’s Nikkei rose 0.74%.\n\nU.S. Treasury yields crept higher and the yield curve steepened, stoked by risk-on sentiment in the wake of the stimulus bill becoming law.\n\nBenchmark 10-year notes last fell 7/32 in price to yield 0.9531%, from 0.93% late on Thursday.\n\nThe 30-year bond last fell 25/32 in price to yield 1.6999%, from 1.666% late on Thursday.\n\nThe dollar slipped against a basket of world currencies as the euro gained strength as investors began pricing out Brexit risk.\n\nThe dollar index fell 0.12%, with the euro up 0.09% to $1.2215.\n\nThe Japanese yen weakened 0.28% versus the greenback at 103.80 per dollar, while Sterling was last trading at $1.3454, down 0.69% on the day.\n\nCrude prices steadied as hopes for a demand rebound helped offset the prospect of increased OPEC+ output.\n\nU.S. crude fell 0.21% to $48.13 per barrel and Brent was last at $51.35 per barrel, up 0.12% on the day.\n\nGold pared its early gains as the dollar recovered its losses amid the stocks rally.\n\nSpot gold added 0.6% to $1,887.81 an ounce.\n\nReporting by Stephen Culp; additional reporting by Danilo Masoni in MilanEditing by Paul Simao\n\nOur Standards: [The Thomson Reuters Trust Principles.](http://thomsonreuters.com/en/about-us/trust-principles.html)\n\nSource [https://uk.reuters.com/article/uk-global-markets/u-s-stocks-touch-record-highs-treasury-yields-rise-on-stimulus-brexit-idUKKBN29203Z?il=0](https://uk.reuters.com/article/uk-global-markets/u-s-stocks-touch-record-highs-treasury-yields-rise-on-stimulus-brexit-idUKKBN29203Z?il=0)\n\n**FILE PHOTO:** A pound coins are placed on broken glass and British flag in this illustration picture taken January 31, 2020. REUTERS/Dado Ruvic/Illustration"}