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Added on the 28/02/2015 00:08:07 - Copyright : Reuters EN
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.
According to Markets Insider, stocks on Wall Street began the new week with mixed results. On June 3rd, two of the top three markets on the New York Stock Exchange opened the day trading lower. The Nasdaq Composite led losses during morning trading, falling over 120-points by the afternoon. On the day, the Nasdaq is down 1.7-percent, while the S&P 500 shed two-tenths of a percent for 5-points of losses. The Dow Jones Industrial Average added about 20-points during the morning, but the market is about flat on the day.
Stocks finished the week strong with the S&P 500 closing at a new record high, despite earnings reports from GE and Honeywell that disappointed investors. Bobbi Rebell reports.
The closing bell rings at the New York Stock Exchange as the Dow finishes at a record, capping a strong week for US stocks following mostly solid corporate earnings that have offset worries about inflation. The blue-chip Dow Jones Industrial Average ended up 0.2 percent at 35,677.02, its first record since mid-August. IMAGES
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.
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