{"id":159261,"date":"2021-01-21T01:15:35","date_gmt":"2021-01-20T22:15:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/stocks-hit-all-time-high-biden-breaks-hoovers-record-for-gains\/"},"modified":"2021-01-21T01:15:35","modified_gmt":"2021-01-20T22:15:35","slug":"stocks-hit-all-time-high-biden-breaks-hoovers-record-for-gains","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/stocks-hit-all-time-high-biden-breaks-hoovers-record-for-gains\/","title":{"rendered":"#Stocks hit all-time high, Biden breaks Hoover’s record for gains"},"content":{"rendered":"

“#Stocks hit all-time high, Biden breaks Hoover’s record for gains<\/strong>”
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US\u00a0stocks closed at record highs Wednesday as Joe Biden was sworn in as the 46th president \u2014 with the new commander-in-chief setting a record for stock gains between his election and his inauguration.<\/p>\n

The benchmark S&P 500 index rallied 1.4 percent to a record close of 3,851.85, finishing 14 percent higher on Inauguration Day than it was on Election Day. That streak broke a record set by President Hoover in 1928 when the S&P rallied 13.3 percent during the same interval, according to MarketWatch.<\/a><\/p>\n

Biden will waste little time turning the page on the Trump era, aides said, signing 15 executive actions in the afternoon on issues ranging from the COVID-19 pandemic to the economy to climate. He\u2019s also set to push a $1.9 trillion coronavirus-relief package through a Democrat-controlled Congress.<\/p>\n

\u201cI\u2019m not sure that the politics of Inauguration Day did much but certainly the expectation for a trillion-plus in stimulus,\u201d said Ross Mayfield, investment strategy analyst at Baird, in Milwaukee, Wisconsin.<\/p>\n

On Wednesday, the Dow soared 257.86 points, or 0.8 percent, to a new record high of 31,188.38. The tech-heavy Nasdaq set its own record, climbing roughly 2 percent to 13,457.25 as shares of Netflix surged 17 percent after it said it would no longer need to borrow billions of dollars to finance its TV shows and movie.<\/p>\n

Nearly all of the 11 major S&P sectors advanced in afternoon trading, with communication services, consumer discretionary and technology<\/a> among the biggest gainers.<\/p>\n

Wrapp<\/a>ing up results from major US lenders, Morgan Stanley slipped despite posting quarterly profit that blew past estimates driven by strength in its trading business.<\/p>\n

\u201cThis is the best inauguration day return since Reagan\u2019s second-term,\u201d said Ryan Detrick, Chief Market Strategist for LPL Financial. \u201cOf course, no one knows where we go from here, but with record monetary and fiscal stimulus, coupled with a huge re-opening later this year, a continuation of this bull market could be in the cards.\u201d<\/p>\n

The Dow has gained about 57 percent and the S&P 500 advanced about 68 percent since Donald Trump assumed office on Jan. 20, 2017, which compares with a 65 percent jump in the Dow and 75 percent gain in the S&P during the first term of the Obama administration.<\/p>\n

With Reuters<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Stocks hit all-time high, Biden breaks Hoover’s record for gains” US\u00a0stocks closed at record highs Wednesday as Joe Biden was sworn in as the 46th president \u2014 with the new commander-in-chief setting a record for stock gains between his election and his inauguration. The benchmark S&P 500 index rallied 1.4 percent to a record close…<\/p>\n","protected":false},"author":1,"featured_media":159262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/joe-biden-9.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[90143,1377,70359,70360],"class_list":["post-159261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-20-21","tag-netflix","tag-stocks","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/159261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=159261"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/159261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/159262"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=159261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=159261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=159261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}