Provided by Dow Jones
By Michael Wursthorn and Joe Wallace Political unrest in Washington didn t dent the stock market s ongoing rally Thursday, with shares of U.S. companies big and small closing at fresh records. Investors largely looked past Wednesday afternoon s violent clash between pro- Trump protesters and law enforcement in the Capitol building, instead focusing on what the shift of political power from Republicans to Democrats means for the market. So far, many investors say they expect to see a glut of spending by Democrats aimed at shoring up the U.S. economy as the Covid-19 pandemic enters its darkest phase yet. Several Democrat lawmakers have already said initial priorities post-inauguration include boosting emergency relief payments to individuals to $2,000.
Stocks Rise to Records as Tech Shares Recover
Investors look beyond U.S. political discord as Nasdaq advances after Wednesday decline A congressional exercise in the peaceful transfer of power devolved into deadly chaos when a pro-Trump mob stormed the Capitol. Hours after the riots, Congress reconvened and certified President-elect Joe Biden’s victory. Photo: Lev Radin/Pacific Press via ZUMA Wire By Updated Jan. 7, 2021 4:40 pm ET
Political unrest in Washington didn’t dent the stock market’s ongoing rally Thursday, with shares of U.S. companies big and small closing at fresh records.
Investors largely looked past Wednesday afternoon’s violent clash between pro-Trump protesters and law enforcement in the Capitol building, instead focusing on what the shift of political power from Republicans to Democrats means for the market.
Provided by Dow Jones
By Joe Wallace and Xie Yu U.S. stock futures rose Thursday as investors looked past the political unrest to focus instead on prospects for higher government spending. Futures tied to the Dow Jones Industrial Average edged up 0.4%, suggesting the index of blue-chip stocks may open the session with muted gains after closing at a record high Wednesday. Contracts tied to the benchmark S&P 500 index rose 0.5%. Futures on the Nasdaq-100 Index gained 0.8%, suggesting that technology stocks may recoup some of their losses. The sector took a beating Wednesday when investors pushed into other stocks that are more dependent on economic growth.
Provided by Dow Jones
By Joe Wallace and Xie Yu Political unrest in Washington didn t dent the stock market s ongoing rally Thursday, with U.S. stocks climbing toward fresh records. Financial and technology stocks led Thursday s gains, pushing the S&P 500 up 1.5% and putting the broad index on pace to close at its first record of 2021. The Dow Jones Industrial Average also rose, adding 338 points to 31168.83, while the Nasdaq Composite jumped 2.1%, putting both of those benchmarks on track for new closing highs as well. Investors largely looked past Wednesday s violent clash between pro- Trump protesters and law enforcement in the Capitol building that left four people dead, instead focusing on what the shift of political power from Republicans to Democrats means for the market, analysts said.
Provided by Dow Jones
By Joe Wallace and Xie Yu U.S. stocks rose Thursday as investors looked past the political unrest to focus instead on prospects for higher government spending. The Dow Jones Industrial Average edged up 0.4%, or 138 points, adding gains after closing at a record high Wednesday. The benchmark S&P 500 index rose 0.7%, while the Nasadaq Composite Index advanced 1.1%. Nasdaq and the sector took a beating Wednesday when investors pushed into other stocks that are more dependent on economic growth. Investor sentiment was boosted by Democrat Jon Ossoff s victory in the second of two Senate runoff races, which was called shortly after U.S. markets closed Wednesday. The two Georgia seats handed Democrats control of the Senate, raising the prospect of additional stimulus for the U.S. economy after President-elect Joe Biden takes office.