STOCKS HIGHER AFTER TRUMP SIGNS $900B BILL

Stocks began the final week of 2020 moderately higher after President Donald Trump signed a $900 billion economic aid package that helps reduce uncertainty amid the re-imposition of travel and business curbs in response to a new coronavirus variant.

The S&P 500 index was up 0.9% as of 1:05 p.m. Eastern. The Dow Jones Industrial Average rose 196 points, or 0.7%, to 30,429 and the Nasdaq composite was up 0.9%.

In Asia, the Shanghai Composite Index rose less than 0.1% to 3,397.29 while the Nikkei 225 in Tokyo added 0.7% to 26,854.03.Alibaba shares declined 7% following last week’s announcement of an anti-monopoly investigation and the suspension of the stock market debut of Ant Group, an online finance platform in which Alibaba owns a 33% stake.

AP

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