Posted on 01/20/2021 9:54:09 AM PST by SeekAndFind
Stocks rose Wednesday, extending Tuesday’s advances as investors looked ahead to the first actions of the incoming Biden administration.
Each of the three major indexes rose, and both the S&P 500 and Nasdaq hit record intraday highs. Shares of Netflix (NFLX) spiked 12% after the company added more users than expected in the fourth quarter and surpassed 200 million paid subscribers for the first time ever.
On Wednesday, all eyes turned to the inauguration of President-elect Joe Biden, which took place at the West Front of the Capitol just noon before in a scaled-down, socially distant event.
In his first hours in office, Biden is set to immediately begin signing executive actions to address the pandemic, virus-stricken economy, climate change and racial equity, according to a memo over the weekend from incoming White House Chief of Staff Ron Klain.
Moreover, Biden is set to quickly begin pushing to get more virus relief aid into the economy, after having unveiled a $1.9 trillion proposal last week that would include increased stimulus checks, extended unemployment benefits and aid to state and local governments, among other measures.
Janet Yellen, Biden’s nominee for Treasury Secretary, advocated for significant additional coronavirus relief spending during her confirmation hearing before the Senate Finance Committee on Tuesday, and added that she would work with the Biden administration on its other priorities as well, including increasing infrastructure investment, enacting environmental protection legislation and eventual tax reforms.
Still, her discussions of the $1.9 trillion stimulus package received some push-back from Republican lawmakers, many of whom balked at passing another major package that they suggested might not be targeted enough to provide support only to those who need it most.
(Excerpt) Read more at finance.yahoo.com ...
Yeah, we’ll see how long that lasts.
Corporate America is filled with socialists. Socialism kills innovation and startups. It entrenches those who already got theirs.
Big companies...large caps will fare well...don’t go buying micro cap or small cap stocks or EFTs. Just my $0.02...
Thought: I hate this as I don’t want these large companies to do well as they sold us all out.
Funny how the media credited Obama for a long time. Trump won’t get that.
When you print trillions, how do you get it into oligarchs’ pockets fastest and with no tax consequences?
The companies that comprise these major indexes have owned Joe Biden for a long time. He'll do whatever he's told.
Right On Cue: As Biden Takes Office, Media and Tyrannical Dems Drop Lockdown Sham
Because this is the beginning of a great economic boom, a wonderful new world?
No. Because when unacceptable inflation is looming on the horizon, it is essential to have money invested in assets that move in the same direction.
This market boom is not a sign of confidence, it is the opposite.
Market will follow the increase in money supply. Investing is that simple now.
Looking forward to big government money.
Exactly! Money laundering via the market.
I’m in ythe s & p 500. Covid is good for big business. When to bail?
Agreed - many tech stocks should do well IMO because they are cronies with the democrat party and the Chinese.
China inc is thrilled.
The globalists and biden campaign stole the election. Just wait to see how they persecute Trump supporters and especially Trump and his family.
Agreed. We’re seeing the Amazons and Googles surging this morning because they own the Democrats. Nothing will be done that they don’t want done.
Small business will be screwed, as per usual. The Democrats are the enemies of the small business person. They’re Mr Potter vis-a-vis George Bailey.
I believe they are acting to the smooth transition of power from Trump to Biden, ie no military takeover as some feared. The rise won’t continue. It can’t.
Oh yes, they jumped from the depths to record highs just like that. Magical. Unexpected.
Thanks for the $$$, Joe.
Now about those tax proposals....
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