Input 2021.01.22 00:24
As of 10:12 a.m. local time, the Dow Jones 30 Industrial Average is trading at 31188.93, a slight increase from the previous day on the New York Stock Exchange. The S&P 500 index is trading at 3850.52, down 0.03%, while the technology stock-oriented Nasdaq index is trading at 13,518.28, up 0.45%.
Earlier, the New York Stock Market soared to an all-time high with the inauguration of President Biden, showing expectations for the new government. Expectations are high for President Biden’s $1.9 trillion in economic stimulus package.
However, it seems that the day before, because it has risen sharply, it seems to show a stagnant appearance at the beginning of the market. The stock market is paying attention to the various policies and market indicators that President Biden will release. “The recent market rally could take a breather in the short term,” said Matt Mulley, chief market strategist at Miller Brubbac.
Meanwhile, the major economic indicators released on the same day are not bad.
The US Department of Labor announced last week that the number of unemployment insurance claims fell by 26,000 from the previous week to 900,000. It was less than the market forecast. The U.S. Department of Commerce said that in December last year, the number of new homes started to rise by 5.8% from the previous month to 1669,000.
International oil prices fell. West Texas crude oil (WTI) for February traded at $52.91, down 0.75% from the previous day.