US stocks opened higher Friday with the Senate passing budget resolution earlier that paved way for President Joe Biden’s $1.9 trillion relief plan.
The Dow Jones was up 180 points, or 0.6%, to 31,235 points at 9.33 a.m. EDT (1433 GMT), while the S&P 500 rose 17 points, or 0.4%, to 3,889. The Nasdaq added 12 points, or 0.1%, to 13,789.
Oil majors were the largest gainers at opening, ExxonMobil and ConocoPhillips up by more than 2% each, after crude oil prices rose over 1%.
Price of Brent crude was at $59.67 per barrel with a 1.14% and American West Texas Intermediate at $57.14 a barrel with a 1.16% daily gain.
The US Senate’s earlier resolution is positive for Biden’s massive relief plan that would see more liquidity in the markets.
The dollar index was down 0.33% to $91.23, while the yield on the benchmark 10-year Treasury note was up 0.64% to 1.146% shortly after opening bell.
Gold recovered by 0.45% to $1,802 per ounce, after investors’ popular safe haven plummeted Thursday to $1,785 an ounce — its lowest level since Dec. 1.
Silver also increased 1.28% to $26.7 per ounce, while Bitcoin again climbing above critical $38,000 mark and other major cryptocurrencies gaining more than 10%.
After losing almost 85% in stock value since start of the week, small investors’ favorite GameStop saw its stock price up 20% after opening.
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