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
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
More Stories From Business
-
PSX achieves significant milestone, surpasses 72,000 mark
4 minutes ago -
KP to adopt fixed ST on services for lawyers, customs agent
7 minutes ago -
KPT shipping movements report
27 minutes ago -
Machinery import surges by 30% in nine months
37 minutes ago -
Foreign exchange rates
3 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
4 hours ago
-
Today Gold Rate in Pakistan 24 April 2024
5 hours ago -
Afghan trade delegation, FPCCI discuss bilateral trade
15 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
16 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
16 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
17 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
17 hours ago