New York stock market opens with rising

The New York stock exchange started the day with the rise before Janet Yellen, who is expected to be the US Treasury Secretary, will present at the Senate’s Finance Committee.

At the opening, the Dow Jones index gained over 200 points and traded at 31,044.86 points, up 0.75 percent. The S&P 500 index rose 0.82 percent from 3,799.13 points and the Nasdaq index increased by 1.06 percent to 13,136.13 points.

Markets that were closed yesterday due to a public holiday in the USA followed a positive course at the opening, with the expectation of more support against the economic effects of the new type of coronavirus (Kovid-19) epidemic and the effect of Goldman Sachs’ better than expected fourth quarter balance sheet.

Markets focus on the speech that Janet Yellen, who is expected to become Treasury Secretary with the appointment of Joe Biden, who is elected US president, will make today at the Finance Committee of the Senate, while Yellen will call for “more support” for the economy.

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Yellen will take over the post of US Treasury Department from Steven Mnuchin, if approved by the Senate.

On the other hand, the balance sheets of Goldman Sachs and Bank of America, one of the major banks of the USA, for the fourth quarter of 2020 were announced.

Goldman Sachs’ net profit in the fourth quarter of 2020 increased by 135 percent compared to the same period of the previous year, reaching 4.5 billion dollars and surpassed expectations.

Bank of America’s net profit in the fourth quarter decreased by 21.4 percent compared to the same period of the previous year to 5.5 billion dollars.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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