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Added on the 07/01/2021 20:45:52 - Copyright : Wochit
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%.
On Friday, US stocks made gains as hopes for a peaceful transition to the Biden administration offset concerns about soaring COVID-19 cases. Business Insider reports S&P 500 closed at a record high. On Thursday Pres. Donald Trump said he'd hand over power when the Electoral College certifies President-elect Joe Biden as the winner of the 2020 election. The US reported 125,082 new coronavirus cases on Thursday. That brought the seven-day average to 163,831, according to the COVID Tracking Project. Deaths topped 254,000, and hospitalizations jumped above 90,000. The stock market's "fear gauge" fell as low as 19.51 on Friday, dropping amid low trading volumes to its lowest level since the pandemic began.
A deal to extend Greece's bailout sparked a late relief rally. The Nasdaq rose for the eighth straight session. Fred Katayama reports.
The Fed-fueled Santa rally roars on, with the S&P 500 reaching a record close and the Dow Jones industrials nearing 18,000.