Markets Rise After Big Biden Spending Plan Announced: Live Business Updates

Markets Rise After Big Biden Spending Plan Announced: Live Business Updates

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A vaccination against the coronavirus site in Napa, Calif., Wednesday. President-elect Biden is expected to come up with a spending plan that will include funds to accelerate vaccine deployment.Credit … Max Whittaker for The New York Times

Wall Street is set to rise when trading begins later Thursday morning, as word spreads that President-elect Joseph R. Biden Jr. will introduce a multibillion-dollar spending plan to counter the impact of the coronavirus on the US economy.

Mr Biden’s plan is expected to focus initially on expanding the country’s vaccination program and virus-testing capacity, reports Jim Tankersley. Mr Biden is due to provide details in a speech Thursday night in Delaware.

Later this morning, economists will analyze the latest tally of UI claims in the United States. Regardless of the turbulence in the financial markets, hiring remains appalling in the US economy, with employers posting a net loss of 140,000 jobs in…

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