Stocks Opened Mixed after Congress Approved Virus Relief Package

U.S. stocks opened mixed on Tuesday after lawmakers voted to approve a long-awaited virus relief package. The Dow Jones Industrial Average lately fell 85.30 points, or 0.28%, to 30,131.15. The S&P 500 was up 0.81 points, or 0.02%, to 3,695.73. The Nasdaq Composite gained 63.23 point, or 0.50%, to 12,805.74.

Oil futures on Tuesday added to their slide as worries about energy demand persisted following new travel bans and lockdowns in Europe and the U.S. to combat the COVID-19 pandemic. West Texas Intermediate crude for January delivery were trading 47 cents, or 1%, lower at $47.50 a barrel. February Brent crude shed 43 cents, or 0.8%, to trade at $50.48 a barrel.

Congress has officially passed a $900 billion fiscal stimulus package after weeks of negotiations between Republicans and Democrats, to help support many of the individuals and businesses hardest-hit by the coronavirus pandemic.

The U.S. economy grew faster than initially reported in the third quarter, the Bureau of Economic Analysis said in its third print on third-quarter gross domestic product. Third-quarter GDP grew at a record 33.4% annualized clip, versus the 33.1% annualized rate previously stated.