Photo = Yonhap News
Major indices in the New York Stock Exchange jumped to an all-time high as Joe Biden’s inauguration of the next US president was confirmed, which triggered anticipation for the stimulus package. Political uncertainty has been resolved, and major economic indicators have also played a role.
On the 7th (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average ended at 31,041.13, up 211.73 points (0.69%) from the battlefield. The Standard & Poor’s (S&P) 500 index jumped 55.65 points (1.48%) over the battlefield to 3,803.79, while the tech stock-oriented NASDAQ index ended at 13,067.48, up 326.69 points (2.56%).
The Dow index crossed the 31,000 line for the first time ever. The Nasdaq jumped to an all-time high, breaking through the 13,000 line and the S&P 500’s 3,800 line for the first time.
As political uncertainty in the United States resolved, he supported investor sentiment. The mayor was affected by major economic indicators such as Biden’s final decision of the next US president, the influence of the’Blue Wave’ Democratic Party’s control of the Senate, and unemployment.
There was also confusion, such as President Donald Trump occupying the Capitol, but the US Congress officially confirmed Biden’s victory in the presidential election at the Senate-House Joint Committee on the previous day. President Trump also promised an orderly transfer of power. Business stimulus beneficiaries, such as banks, showed an increase.
Good economic indicators came out one after another. The US Department of Labor announced last week that the number of unemployment insurance claims fell by 3,000 from the previous week to 787,000 (seasonal adjustment). The Supply Management Association (ISM) also announced that the service industry purchasing managers index (PMI) in December rose from 55.9 to 57.2 last month.
By industry, technology stocks rose 2.65% and financial stocks rose 1.47%. Individual stocks also showed a sharp rise. RBC Capital, Wall Street’s leading Tesla bearer, raised its target price from $339 to $700. Tesla’s share price jumped 7.94%, and during the intraday the market cap exceeded Facebook. Apple’s share price rose 3.4%, making up for the previous day’s decline, and Amazon.com rose 0.76%. Plug Power’s share price surged 35.11% the day before, when SK announced its $1.5 billion investment plan.
On the Chicago Options Exchange (CBOE), the volatility index (VIX) fell 10.77% from the previous trading day to 22.37.
Hankyung.com reporter Kim Hana [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution