Wall Street Rises to Joe Biden’s Inauguration – Netflix Bounces


Wall Street has really wished Joe Biden welcome to the new President of the United States.

Stock prices have risen in recent days as Biden, with the support of a Democrat-driven congress, is expected to make a major stimulus in the coming weeks of his season, which begins on Wednesday.

Among other things, $ 1,400 checks would be promised to households and continued increased unemployment benefits until September due to the interest rate pandemic.

A couple of hours before Biden’s inauguration, U.S. stock indices opened up, with the S&P 500 index strengthening just under 3,835 points and the technology exchange Nasdaq rising 1.5 percent to 13,400 points.

Both indices are significantly higher than previous highs before the corona hit last spring.

S & P’s sectors all except for the finance sector, consumer products and infrastructure services were in the green IT industry and communications pulls the rise of 1.7-2.4 per cent after the half-hour of trading. Energy shares also rose.

Investors the pandemic is expected to calm down over the course of the spring, and a strong economic recovery with the help of subsidies is expected.

On the other hand, ongoing economic and movement restrictions in many parts of the country support some so-called stay at home stocks. This is, for example, a streaming service Netflix, whose stock opened on Wednesday at a steep 13 percent rise.

Netflix was among the first companies to announce its fourth-quarter results on Tuesday after the stock market closed, and it was manna for those who invested in the company.

The company gathered 8.5 million new users, exceeding analyst expectations this century. Earnings of $ 1.19 per share fell short of the $ 1.36 forecast, but on the other hand, investors placed more emphasis on growth prospects than earnings.

In particular, investors thanked the company for the information that the company would not need loan money for new productions in the future.

The sharp rise was also Googles parent company Alphabet 3.6 percent and the payment company Mastercard 3.5 percent. About car companies Ford accelerated by 4.3 percent.

Bank shares in particular Bank of New York Mellon lost value, 5.8 percent.


Source: Arvopaperi by www.arvopaperi.fi.

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