The Dow Jones Industrial Average rose 70.04 points, or 0.2%, to 30,199.87 and the Nasdaq compound rose 33.62 points, or 0.3%, to 12,804.73.
Investors remain focused on Washington, where Democrats in Congress must try to make changes to the $ 900 billion COVID stimulus project that President Trump threatened to veto. Trump called for greater individual payments to Americans, something Democrats support, but which is unlikely to have a vote in the Republican-controlled Senate.
The hope is that Trump will step back from his veto threat and that the stimulus package can balance the economy until widespread vaccines can help the world get back to normal.
Meanwhile, the United States economy continues to deteriorate with outbreaks, infections and widespread hospitalizations of coronavirus. The Labor Department said fewer American workers filed for unemployment insurance last week. The number is still incredibly high compared to before the pandemic, but it was better than economists expected.
Other reports have been darker. Consumers cut their spending last month more than economists expected, mainly because of falling income.
“Despite the Washington DC lagoon agitation over vetoes, new votes and cancellations, Wall Street clearly believes that something positive will reach the top of the barrel when the unrest stops,” said Jeffrey Halley of Oanda in a comment to investors.