【Youth Daily 】In the New York Stock Market, major indexes started rising at the inauguration ceremony of US President-elect Joe Biden, who announced the introduction of an additional $1.9 trillion in stimulus, and reaffirming the plan to expand financial spending by the nominee of Finance Minister Janet Yellen.
As of 9:53 a.m. (Eastern Time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) traded at 31,007.38, up 76.86 points (0.25%) from the battlefield.
The Standard & Poor’s (S&P) 500 index traded at 3,823.16, up 24.25 points (0.64%) from the battlefield, and the technology stock-oriented NASDAQ index, up 154.73 points (1.17%) to 13,351.90.
The mayor is keeping an eye on President Biden’s inauguration ceremony, plans to expand fiscal spending, and performance of major companies.
Biden-elect becomes the 46th President of the United States on this day. Market participants are also paying attention to the message from the new President Biden, which is the theme of unity and reconstruction in the United States at the inauguration ceremony scheduled at noon.
As President Biden has already announced the introduction of an additional $1.9 trillion in stimulus measures, it is expected to reaffirm its aggressive economic stimulus policy.
Finance Minister Janet Yellen also confirmed the policy of aggressive fiscal spending expansion at a confirmation hearing on the previous day.
Morgan Stanley, a large bank, also recorded net income and sales in the fourth quarter, far exceeding market expectations, recording a 2% increase in stock prices before opening.
In addition to the surge in Netflix, the stock price of its rival Disney also rose 3% before the opening.
New York stock market experts predicted that strong earnings and expectations for stimulus would support investor sentiment.
JJ Kinahhan, chief market strategist at Ameritrade, said: “As investors are anticipating major changes in the new government policies and outlook, all other issues will be pushed back to Washington events.”
“We started the performance season pretty strong,” said Chris Larkin, director of E-Trade. “What’s more encouraging is the positive guidelines companies are expecting.”
“Even though some friction is inevitable, the light will begin to appear at the end of the tunnel,” he added.
Stock markets in major European countries are also strong. The pan-European index Stoxx 600 rose 0.74%.
International oil prices also rose. Western Texas crude oil (WTI) prices for February moved 1.21% to $53.62, up 1.09% from the previous trading day, and Brent crude to $56.51.
【Youth Daily = Reporter by phone number】