Stocks Add To Record Highs As Goldman Ups Q1 Stimulus Expectations To $750 Billion
- Date: 07-Jan-2021
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Stocks Add To Record Highs As Goldman Ups Q1 Stimulus Expectations To $750 Billion
Topline
Stocks are once again hitting record highs–largely on heightened stimulus expectations–after a hectic day of riots in Washington, D.C. that ultimately ended with the official certification of President-elect Joe Biden's election victory, but a slew of economic data, forecasts and earnings Thursday shed light on the nation's still-lagging economic recovery.
The U.S. Capitol is seen the day after a pro-Trump mob broke into the building on January 07, 2021 ... [+] in Washington, DC. Congress finished tallying the Electoral College votes and Joe Biden was certified as the winner of the 2020 presidential election. Photo by Joe Raedle/Getty Images)
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Key Facts
Shortly after the market open, the Dow Jones Industrial Average jumped 135 points, or 0.4%, tacking on to a record high close Wednesday, while the S&P 500 added 0.7%, and the tech-heavy Nasdaq climbed 1%, reversing its Wednesday losses.
Another 787,000 people in the United States filed initial unemployment claims in the week ended January 2, marking little change from the week prior and a sign hiring could be stalling amid still-surging Covid-19 cases.