U.S. stock markets end at record highs after Biden's inauguration
U.S. stock markets end at re...
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U.S. stock markets end at record highs after Biden's inauguration

21 January 2021
2 min.
U.S. stock markets end at record highs after Biden's inauguration

U.S. stock indicators

US stock indices ended Wednesday's trading at record highs following the inauguration of US President-elect Joe Biden, who became the country's 46th president.

The Dow Jones Industrial Average index rose 257.86 points (0.83 per cent) to 31188.38 points. The Standard Poor's 500 rose 52.94 points (1.39%) to 3,851.85 points. The Nasdaq Composite added 260.07 points (1.97%) to 13457.25 points.

On Wednesday, technology companies grew steadily.

Netflix Inc (NASDAQ:NFLX). rose 16.9% to a record high. The world's largest subscription video streaming service slashed net income by 7.6% in Q4, but boosted revenue by more than 21%.

Shares of Apple Inc. (NASDAQ:AAPL) rose 3.3%, Amazon.com Inc (NASDAQ:AMZN). up 4.6%, Facebook Inc (NASDAQ:FB). up 2.4%, Alphabet (NASDAQ:GOOGL) Inc. up 5.4%.

UnitedHealth Group (NYSE:UNH) Inc. was down 0.5%, although the largest U.S. health insurance company recorded a smaller-than-expected drop in Q4 2020 earnings and revenue rose stronger than forecast.

The capitalisation of Procter Gamble Co (NYSE:PG). (P&G) declined 1.3% despite the world's largest consumer products maker increasing net income and revenue in Q2 FY2021 thanks to strong demand for the company's products during the COVID-19 pandemic.

Tyson Foods Inc (NYSE:TSN). shares rose 3.68%. the food maker will pay $221.5 million to settle claims in a case against US chicken producers accused of conspiring to inflate prices.

Morgan Stanley (NYSE:MS) shares lost 0.2%, although one of the largest US banks increased net income and revenue in Q4 2020, both beating analysts expectations.

Shares of eBay Inc (NASDAQ:EBAY). fell 1.4%. The world's largest online auction house said it is considering selling a unit in South Korea.

Investors hope the new administration will focus on implementing measures to stimulate the pandemic-hit economy.

Persons1 and Companies12 in the news

46th President of the United States
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Dow Jones
2 place
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Meta (Facebook)
7 place
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Morgan Stanley
11 place
Tyson Foods
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