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Stock market news updated live: Stocks gain records after Congress secures Biden victory in crisis, useless claims continue
U.S. stocks live updaters found out Thursday as traders sparked Wednesday’s unrest in Washington and are looking forward to the impact of the presidential and congressional administration policy. The prospect of further stability under a united Democratic government creates a climate of self-doubt.
The S&P 500 gained 1.5% to a higher level, while the Dow also rose to a record intraday level. Nasdaq recovered Wednesday's losses, improving by 2.3% to fall by more than 13,000. In one night, Congress confirmed President Joe Biden's victory at the Electoral College and officially accepted him as the next President, and lawmakers reunited after hours of supporters supporting President Donald Trump crowded inside the Capitol and forced the building to lock down and lawmakers to leave.
President-elect Joe Biden called the event "chaotic" in his remarks to the nation. Trump later told protesters to "go home," but reiterated baseless allegations that "the election was stolen from us," at a video address now removed by Twitter, Facebook and YouTube. Business leaders including JPMorgan Chase chief executive Jamie Dimon and Blackstone CEO Stephen Schwarzman, a longtime Trump supporter, have condemned the violence.
Despite the turmoil, the Dow ended the record high on Wednesday, while the S&P 500 gained 0.6%.
"Looking at the market reaction here… it is well known here that something inevitable happened on January 20," Raymond James analyst Ed Mills told Yahoo Finance on Wednesday. "It's not like there's a situation that depends on any protest that keeps Donald Trump as president this time around."
“The market is very focused, what are the policies for the next two years with Congress voting in the last election last night? What are the policies for the next four years? ”Mills have been added. “They looked at COVID, they saw the drugs being distributed. They are looking to reopen. ”
On Wednesday afternoon, the Associated Press reported that Democrat Jon Ossoff was the winner of Georgia's second Senate election, defeating Republican incumbent David Perdue. Democrat Raphael Warnock was named the winner of the Senate race against Republican incumbent Kelly Loeffler earlier in the day. This has given Democrats a very small majority in the room when considering the ability of the Vice-President-elect Harris to vote.
Funds, resources and energy increase increased profits as opportunities between the Democratic sweepstakes, with the assumption that a democratic coalition government will improve the momentum of eradication and increase the use of infrastructure. Marijuana and stockpiles of clean energy including electric car manufacturers have also found hope in the many policies that can be applied to these industries under the Democratic House and Senate.
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