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Nasdaq, S&P renew closing records

26 January 2021
1547
1 min.
7
Nasdaq, S&P renew closing records

U.S. indices

The main US stock indices retreated from Monday's session highs by the close, but the S&P and Nasdaq still ended at record levels. Concerns over the timing and size of the fiscal stimulus have dampened optimism at the start of a week in which quarterly reports from market giants are expected.

Investor attention shifted to the US Senate, which is seeking to pass COVID-19 economic stimulus legislation before February 9, when former President Donald Trump's impeachment trial will begin in the chamber.

Joe Saluzzi of Themis Trading said: "'The main thing that really supports the market is the stimulus".

"The market loves money, whether it's fiscal or monetary (measures), and right now you have both. So if the stimulus plans lose support, it could be a problem, but they won't do that", he added.

The Dow Jones index closed down 0.12% to 30,960 points, the S&P 500 index rose 0.36% to 3,855.36 points and the Nasdaq rose 0.69% to 13,635,992 points.

After rising as much as 1.4% to an intraday record, the Nasdaq then lost most of its gains.

However, the S&P and Nasdaq did renew closing records thanks to late-session gains after President Joe Biden unveiled a plan to increase US domestic production through government procurement.

Persons3 and Companies4 in the news

Co-founder of Themis Trading
1 place
46th President of the United States
2 place
45th President of the United States
3 place
Themis Trading
1 place
Nasdaq
2 place
Dow Jones
3 place
Section:

Discussion

Rating companies
Tesla
56 Mention
Apple
55 Mention
Amazon
52 Mention
Nasdaq
51 Mention
Dow Jones
43 Mention
Facebook
43 Mention
Microsoft
31 Mention

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