
USA stocks are drifting near their record highs on Friday, following a sober reminder of how many jobs the pandemic is destroying, as Wall Street balances expectations for the economy's potentially brighter future against its current pain.
The S&P 500 posted 75 new 52-week highs and no new lows while the Nasdaq recorded 352 new highs and five new lows.
The economic data of the day came in better than expected as well, with lower-than-predicted jobless claims for last week, and a stronger-than-expected December services purchasing managers' index.
At 11:47 a.m. ET the Dow Jones Industrial Average rose 306.47 points or 0.99% to 31,135.87, the S&P 500 gained 57.18 points or 1.53% to 3,805.32 and the Nasdaq Composite gained 306.33 points or 2.40% to 13,047.12.
Meanwhile, referring to a riant market optimism over a larger pandemic stimulus bill alongside a likely raise of a one-off pay-check to $2,000 from an earlier $600 passed in the US Congress later past year, a portfolio manager at GolbAlt in Atlanta, Keith Buchanan said, "You're seeing a reflation trade on the assumption that a more progressive and aggressive fiscal stimulus package could be in the offing". The remarks unsettled investor who expect further stimulus payments. "The employment recovery has stalled as a result", he said.
Congress held a joint session today to ratify President-elect Joe Biden's 306-232 Electoral College win over President Donald Trump. JPMorgan Chase slipped 0.4%, and Bank of America fell 1.5% for two of the biggest weights on the S&P 500.
The Dow is up 434.65 points, or 1.4%.
But the Dow gave up some of its early gains and finished the day up only 0.2%, as investors now seem anxious that more help might not soon be coming after all.
U.S. House Speaker Nancy Pelosi urged Trump's immediate removal from office.
The S&P 500, the broadest measure of the United States equities market, was up 1.4 per cent and the Nasdaq Composite soared 2.3 per cent at midday.
"The irony is that. despite the chaos we got more clarity and certainty that Biden is the president and that there is Democratic government", said John Petrides, portfolio manager at Tocqueville Asset Management in NY.
Electric car-maker Tesla Inc jumped 7.8%, taking its market capitalization to more than $800 billion for the first time ever.
The rally was broad-based, though the S&P 500′s technology sector notched the biggest gain, recouping losses after a pullback a day earlier.
USA -listed shares of Baidu Inc gained 8% on plans to form a company to make smart electric vehicles, according to two sources familiar with the matter.
Advancing issues outnumbered declining ones on the NYSE by a 1.10-to-1 ratio; on Nasdaq, a 1.07-to-1 ratio favored advancers.
To play or not to play, that is the question
He said: 'We have had two players who were very, very sick and one or two members of staff who were almost hospitalised. Bruce added that fielding youth teams in the FA Cup "devalues" the competition even in the midst of the pandemic.
Man City owner buys historic FA Cup trophy
Sergio has been back home as well to see his family but he's back now. "Marcos would have to travel in and do quarantine before". It might be the end of January or in the summer where he finds somewhere else.
Police clearing Trump supporters from US Capitol
That process will continued until all states are tallied - or until an objection is raised about the results in a given state. Pence released a statement as the session began Wednesday, saying he does not have "unilateral authority" to reject votes.
Ole Gunnar Solskjaer says Donny van de Beek must ‘kick on’
He added: "I think his playing style is better suited to the Spanish league than to the English". He has had injuries and niggles, but you have to train well.
U.S. Capitol cop killed in pro-Trump riot a war vet
They said he went to a technical school to study electronics but ditched it to follow his dream of becoming a police officer. The procedure allows for the vice president and a majority of the Cabinet to declare the president unfit for office.
How Long Does The COVID Vaccine Protect Against The Virus?
In future years, it is thought that Covid-19 vaccines will need to be tweaked annually much in the same way the winter flu jab is. Ontario hospitals have been told to brace for patient transfers from outside their regions as COVID-19 hospitalizations rise.
North Korea threatens to expand nukes, calling U.S. hostile
Kim said he won't use his nuclear arsenal unless "hostile forces" intend to use their nuclear weapons against North Korea first. Biden, who was vice president under President Barack Obama, called Kim a "thug" during the election campaign.
"SoHo Karen" Who Falsely Accused Black Teen Of Stealing Phone Arrested
King responded, "I know you've seen the video , when you look at the video, the reaction seems very extreme". She was dubbed " Soho Karen " by social media users after security footage of her assault went viral.
Kanye West and Kim Kardashian West said to be living apart
In 1991, Behan started working with the Kardashians when Kim Kardashian was 10. Kim is now getting the affections of Black women worldwide at the moment.
COVID-19 claims five in Clark County as new cases surge
Health Department Administrator Khala Hochstedler says seniors must register through the state and must have an appointment. Individuals should first check to see if vaccination is available through their primary healthcare provider.
Astrazeneca commits to supply Davao City with COVID vaccines
South Africa is battling a dramatic resurgence of COVID-19 that is quickly outstripping its first peak. It didn't specify which vaccine.
Democracy takes work, Trudeau says in condemning 'violent rioters' incited by Trump
Trudeau also said democracy takes work and he spoke about this with premiers, noting in Canada we can't take it for granted. We need to be more responsible, all of us, in how we approach civil society and community engagement.
Indonesia's top Islamic body OKs China's Sinovac vaccine
The country plans to vaccinate about 67 percent of its population - about 181.5 million people, to achieve herd immunity. In December, Brazil announced that CoronaVac had shown an efficacy of above 50%, without giving a more precise figure.
UAE: No diplomatic ties to Qatar yet, says UAE
Leaders of the Gulf Cooperation Council and Egypt on Tuesday signed an agreement that aims to strengthen unity and cohesion. Meanwhile a Qatari business delegation flew from Saudi to Cairo to open a luxury hotel in the Egyptian capital.
Trump administration opens up more protected Arctic land for oil development
After decades of controversy, the sale was finally authorised by the US Congress in 2017 as part of a major package of tax cuts. Only two of the bids were competitive, so most of the land was auctioned off for the minimum price of $25 an acre.