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MarketWatch MarketPulseJan 20, 2021
Stock market scores trifecta of record high closes as Biden becomes 46th U.S. president
The U.S. stock market finished at all-time highs on the Inauguration Day of Joe Biden, who takes the reins of presidency from Donald Trump after a tumultuous four-year term capped by the onset of a economically debillitating pandemic. Biden is expected to spend briskly to help the economy rebound as deaths from the COVID-19 pandemic eclipsed 400,000 a day ago, with the spread accelerating amid an attempt at distributing effective vaccines for the contagion. Biden has proposed that he will spend $1.9 trillion, an ambitious amount that is likely to be watered down by GOP, to help revive businesses that have suffered under lockdowns to limit the spread of the virus. Hope that the economy will stabilize at least in the second half of 2021 has helped to propel markets higher as Biden takes office. The Dow Jones Industrial Average gained nearly 260 points, or 0.8%, to end at a record high at 31,188, on a preliminary basis. The S&P 500 index finished up 1.4% also closing at an all-time peak at 3,851, finally breaking above a level at 3,800 that has long been viewed as resistance for the broad-market index. The Nasdaq Composite Index finished the session up 2% higher at 13,457. The day's gains for the three major benchmarks were the best on Inauguration Day since 1985, according to Dow Jones Market Data. In corporate news, Netflix Inc. let gainers up about 17% after the video-streaming service showed better-than-expected subcriber growth late Tuesday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Google Business NewsJan 20, 2021
Wall Street hits all-time high, Biden breaks Hoover's record for stock gains - New York Post
Wall Street hits all-time high, Biden breaks Hoover's record for stock gains  New York Post Dow, S&P, Nasdaq close at records as Biden sworn in as 46th U.S. President  Fox BusinessWall Street hits records as hopes build for more stimulus  Los Angeles TimesFive Drivers of Markets in a Biden Administration  Bloomberg
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