(New York and Toronto) The New York Stock Exchange hit new highs Wednesday at the close after a session marked by the official start of Joe Biden’s tenure as President of the United States and a salvo of results.
Posted on January 20, 2021 at 9:41 a.m.
Updated at 4:43 p.m.
–
–
The Dow Jones Industrial Average rose 0.83% to 31,188.38 points.
The NASDAQ, driven in particular by the flight of Netflix stock, climbed 1.97% to 13,457.25 points and the extended S&P 500 index appreciated 1.39% to 3851.85 points.
The previous records for the three major indices dated from January 8.
The Toronto Stock Exchange’s S & P / TSX Composite Index gained 57.54 points to end the session with 18,014.91 points.
In the currency market, the Canadian dollar traded at an average rate of 79.01 cents US, up from its average rate of 78.52 cents US the previous day.
On the New York Commodity Exchange, the price of crude oil advanced 33 cents US to US $ 53.31 per barrel, while that of gold rose US $ 26.30 to US $ 1,866.50 the ounce. The price of copper climbed less than US 1 cent to US $ 3.64 a pound.
With the new American administration, the market is anticipating an ambitious fiscal stimulus plan, as the new Democratic president has committed to, who wants to urgently release an additional $ 1900 billion to deal with the impact of the pandemic.
These measures, which are supposed to boost consumption and investment, are viewed favorably by financial circles.
Such a prospect, defended the day before by the future Secretary of the Treasury, Janet Yellen, against US senators, had already supported Wall Street on Tuesday.
The New York Stock Exchange, and in particular the NASDAQ index with strong technological coloring, also benefited from the insolent form of Netflix, whose stock jumped by nearly 17%.
On Tuesday evening, the American online streaming giant revealed that its number of subscribers worldwide had for the first time surpassed 200 million at the end of last year, confirming the rise of the platform during the pandemic.
The group also indicated that it was considering a share buyback, a measure that tends to push up the price of a security listed on Wall Street.
US investment bank Morgan Stanely (-0.20%) and US consumer goods group Procter & Gamble (-1.25%) published Wednesday before the opening of good results, but their actions respective fell.
–
