Home / World News / Dow, Nasdaq hit record highs as focus turns to Biden's stimulus plan

Dow, Nasdaq hit record highs as focus turns to Biden's stimulus plan

Dow Jones Industrial Average rose 116.19 points, or 0.38%, to 31,178.17, Nasdaq Composite gained 81.07 points, or 0.62 %, to 13,210.89

Five of the 11 major S&P sectors, including industrials and materials gained, more than 1% (Photo: Reuters)

Premium

Five of the 11 major S&P sectors rose in early trading with economy-linked energy, financial and industrials gaining the most

Devik Jain and Medha Singh | Reuters

3 min read Last Updated : Jan 14 2021 | 9:34 PM IST

The Dow and the Nasdaq hit record highs on Thursday in anticipation of President-elect Joe Biden's pandemic aid proposal to jump-start a struggling economy after data highlighted weakening labor market conditions.

The Labor Department's weekly jobless report showed the number of Americans filing for unemployment benefits increased more than expected last week, underscoring the impact of a resurgence in Covid-19 infections.

However, the S&P 500 rose for the seventh time in nine sessions this year as investors count on Biden to unveil a stimulus plan on Thursday evening that could exceed $1.5 trillion.

"For a while investors have been looking forward

Topics : Joe Biden Coronavirus Wall Street Fiscal stimulus US stocks US stock market Dow Jones Nasdaq

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in