Shares climbed to an all-time high Thursday as Congress confirmed Joe Biden’s election as president and traders left the Washington riots behind them

The Dow Jones Industrial Average rose 308 points, or 1% The Nasdaq Composite popped 22% â ???? for the first time over 13Break 000 ???? Shares of Facebook, Amazon, Apple, Netflix and Alphabet were up more than 1% and the S&P 500 Advanced 15% to break 3 for the first time800 to act

Sentiment on Wall Street was lifted after the Institute for Supply Management released its index of non-manufacturing activities in the United States rose to 572 in December from 559 in November Economists polled by Dow Jones had forecast a pressure of 545

Walgreens Boots Alliance surged 77% to lead the Dow higher on stronger-than-expected quarterly results JPMorgan Chase stocks rose 41% after the banking giant was upgraded to buy Neutral by a Bank of America analyst The financial and tech sectors each rose more than 2% to lift the S&P 500

Pro-Trump rioters stormed the U on WednesdayS. Capitol, just as lawmakers began the process of counting the electoral college’s votes and formally declaring Biden the winner, the Dow and S&P 500 closed higher on Wednesday as traders looked past the event amid increasing prospects for further fiscal stimulus

“There should be no mystery why the markets didn’t care what happened in the capital yesterday, however disturbing, shameful and embarrassing it was,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group the fact that it has no bearing on the direction of the economy, profits and interest rates It’s that simple “

Congress convened again to continue the process and confirm Biden’s victory late Wednesday evening after the Capitol building was secured.This confirmation came early Thursday morning when the House and Senate declined efforts to object to the acceptance of the To raise electoral college from Arizona and Pennsylvania

President Donald Trump said in a statement following the confirmation of Biden by Congress that “on Aug. January an orderly transition will take place “

“I think the reason the markets aren’t too cluttered is because it won’t change the power shift,” said Tom Lee, co-founder of Fundstrat Global Advisors

Traders on Wednesday focused on the possibility of additional tax subsidies after the Democratic Party gained a slim majority in the Senate, which gave it control of both chambers of Congress

NBC News forecast on Wednesday afternoon that Democrat Jon Ossoff beat Republican David Perdue in one of Georgia’s two runoff elections. Earlier in the day, NBC predicted Democrat Raphael Warnock beat Republican Sen. Kelly Loeffler in their Georgia runoff election

Georgia’s election results create a 50:50 Senate that Democrats will control based on the tied vote with elected Vice President Kamala Harris, a Democrat-held Senate is widely expected to push for a more robust stimulus package, speculation that the shares are on Wednesday, particularly stocks hit hardest during the Covid recession

JJ Kinahan, chief marketing strategist at TD Ameritrade, said the election results give “more clarity” to investors by “consolidating democratic control in Washington and raising expectations for further impetus”

“With political tensions easing, expected economic stimulus and coronavirus vaccines giving investors and traders some degree of calm, the market now appears to be able to focus on the earnings season,” he said

In the data area, initial unemployment claims for the week ending December were 787000 31, the Department of Labor said Economists polled by Dow Jones expected 815 pressures000 The data came before the department’s monthly job report, scheduled for Friday morning

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Source: https://www.cnbc.com/2021/01/06/stock-market-futures-open-to-close-news.html