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Added on the 27/06/2016 16:34:24 - Copyright : Reuters EN
U.S. bank stocks and multinationals could get hurt if Britain votes to quit the European Union, equity strategists say. Fred Katayama reports.
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US stocks closed at record highs on Wednesday after President Joe Biden was sworn into office. Tech stocks drove the market following an optimistic earnings report from Netflix. According to Business Insider, the Netflix report sent shares soaring nearly 20%. Tech shares didn't stop with Netflix, Alphabet rose to an all-time high with a 6% surge. Alibaba climbed 7% after it's founder, Jack Ma, made an appearance in a videoconference. Ma had not been seen in public for months prior to the call. Gold rose 1.57% on the news of the 46th President's inauguration to $1,869.10 per ounce.
US stocks climbed on Friday after disappointing November jobs data buoyed hopes for a near-term stimulus deal. The S&P 500, Dow Jones industrial average, and the Nasdaq composite all closed at all-time highs. The US unemployment rate edged downward from 6.9% to 6.7% meeting economists' forecasts. The S&P 500 closed at 3,699.12, up 0.9% on Friday. The Dow Jones industrial average closed at 30,218.26, up 0.8% (249 points). While the Nasdaq composite saw closing numbers of 12,464.23, up 0.7%.
JPMorgan released a note about the stock market in 2021. JPMorgan said the stock market is primed to surge in 2021. 2021 is when key risks like the US election and COVID-19 pandemic will begin to subside. "The equity market has one of the best setups for sustained gains in year," JPMorgan said. According to Business Insider, JPMorgan's note said they expected the S&P 500 to surge 26% to 4,500 by the end of 2021.
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