[뉴욕증시] Biden’s Inauguration Ceremony Closes All-Time High

[샌프란시스코=뉴스핌]Correspondent Narae Kim = The New York Stock Market ended at an all-time high on the 20th (local time), the first day of President Biden’s inauguration.

On this day, the Dow index rose 0.83% to 31,188.38 on the New York Stock Exchange (NYSE). In addition, the S&P 500 rose 1.39% to 3851.85, and the Nasdaq index rose 1.97% to 13,457.25, respectively.

[워싱턴 로이터=뉴스핌]Reporter Kim Geun-cheol = U.S. President Joe Biden’s couple (center) get out of their vehicle and walk to the White House during the inaugural parade held at Pennsylvania Avenue in Washington DC on the 20th (local time). 2021.01.21 [email protected]

The mayor’s expectations for President Biden’s introduction of an additional $1.9 trillion worth of stimulus measures and expectations for the new government were at large. President Biden announced that he would waste little time at the inauguration ceremony on the day, and egoed the signing of 15 executive orders on issues ranging from Corona 19 policy, economy and climate change.

Looking at the stock market growth rate during the previous presidency, Dow rose 57% and the S&P500 rose 68% over the four years since January 20, 2017, when former President Donald Trump took office. In addition, during his first four years in office, Barack Obama rose 65 percent for the Dow and 75 percent for the S&P 500.

In addition, the nominee of Finance Minister Janet Yellen also played a positive role in reaffirming aggressive fiscal spending expansion at a confirmation hearing the day before.

Powered Lazada ThinkMarket Market Analyst said, “There will be greater cooperation between the central bank and the Treasury over the next few years if Yellen becomes the chairman of the Fed.” It means it will provide a good background for stocks and other risky assets.”

In addition, as stock market valuations are nearing their highest in 20 years, investors are hoping that corporate results and earnings outlook will help determine to what extent the valuation is justified.

Another large technology stock (FAANG), which unveils its results next week, also rose significantly. The stock price soared more than 16% as Netflix announced that its subscribers are increasing significantly and are considering buying back shares. Netflix’s global net subscriber growth was 8.5 million, far exceeding the market forecast of 6.74 million.

Google’s parent company Alphabet rose 5.4% and Amazon rose 4.6%. Also, Microsoft rose 3.7%.

Ross Mayfield Baird, an investment strategy analyst, said, “The rise in technology stocks was unusual with the periodic industry cycle going on over the past two to three months,” and “The rise of Netflix has been the most influential in the market.”

By stock, Morgan Stanley posted a net profit of $3.4 billion in the fourth quarter, up 51% year-on-year. Delta also rose 3.3% after Argus upgraded its rating from Hold to Buy. Alibaba also rose 5.5% after founder Ma Yun first appeared in two months.

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