US Stocks Gain Ahead Of Biden Inauguration
Faizan Hashmi Published January 20, 2021 | 09:57 PM
The Nasdaq led US stocks higher early Wednesday ahead of the inauguration of President-elect Joe Biden amid hopes for more stimulus spending and an improved rollout of coronavirus vaccines
New York, (UrduPoint / Pakistan Point News - 20th Jan, 2021 ) :The Nasdaq led US stocks higher early Wednesday ahead of the inauguration of President-elect Joe Biden amid hopes for more stimulus spending and an improved rollout of coronavirus vaccines.
The broad-based S&P 500 has risen about nine percent since Biden was declared the winner of the November election, which came just ahead of regulatory approvals of the first Covid-19 vaccines.
Biden is expected to emphasize the need for national unity after the contentious presidency of Donald Trump.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 31,035.21, while the S&P 500 gained 0.7 percent to 3,826.46.
The tech-rich Nasdaq Composite Index stood above its record close at 13,374.
52, up 1.3 percent.
The early gains Wednesday added to positive momentum from the prior session as Treasury Secretary nominee Janet Yellen argued for a robust fiscal package to support the coronavirus-ravaged US economy.
Among individual companies, Netflix shot up 12.7 percent as it reported better-than-expected subscriber growth in the past quarter.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million despite recent price hikes, its quarterly earning update showed.
Morgan Stanley gained 1.9 percent as it reported a 27 percent jump in fourth-quarter profits to $3.3 billion following a strong performance by its trading division.
Related Topics
Recent Stories
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
Turkey's Freedom Flotilla ready to set sail for Gaza
French teen dies from heart failure after knife attack near school
Iranians appear unfazed by Isfahan blasts
UAF celebrates Int'l Chinese Language Day
More Stories From Business
-
Pakistan aims to agree outline of new IMF loan in May - Finance Minister
3 hours ago -
FTO commends FBR's role for prompt resolution of tax payers’ issues
3 hours ago -
BISP embraces E-procurement: launches inaugural tender
5 hours ago -
Business community indebted to Ahsan Zafar for his unprecedented services: Yousuf Rajput
5 hours ago -
China auto sector steps up Europe push with Spain plant
5 hours ago -
Condolence reference held in memory of FBR's officials
6 hours ago
-
Health activists ring alarm bells over 10-stick cigarette pack
7 hours ago -
Karachi receives maiden direct flight of Azerbaijan Airlines from Baku
7 hours ago -
PSX turns bullish, gains 619 points
8 hours ago -
Rupee bounces back; gains 13 paisa against dollar
7 hours ago -
Partners join hands for alternate use of marble, granite slury
7 hours ago -
Tokyo's Nikkei index tumbles 3% in morning trade
10 hours ago