International Business: S&P 500, Nasdaq scale record highs as Netflix jumps; Biden takes office gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
US stocks closed at record highs on Wednesday as Joe Biden was sworn in as the 46th US president, while solid results from Netflix sparked a rally in shares of stay-at-home beneficiaries. Shares of the world s largest streaming service Netflix surged 16.85% after the company said it would no longer need to borrow billions of dollars to finance its TV shows and movies. The rest of the FAANG group, due to report results in the coming weeks, jumped with Google parent Alphabet Inc rising 5.36%. The NYSE FANG+TM index gained 4.77%. It s a tech outperformance day which is pretty rare over the past two or three months as the cyclical rotation has kind of gotten underway, said Ross Mayfield, investment strategy analyst at Baird, in Milwaukee, Wisconsin. He added a lot of the move can be traced to Netflix.
Five economic effects from the Democratic sweep in Washington
Joe Biden will inherit among the most challenging political and economic environments of any US president.
Author:
Vasilis Asvestas/Shutterstock
Joe Biden will inherit among the most challenging political and economic environments of any US president. With America reeling from the storming of the Capitol by pro-Trump insurrectionists, not to mention a raging pandemic, President Biden must heal partisan wounds and put the world’s largest economy back on track.
For the first time in a decade, a Democrat president has both congressional houses on his side – albeit with slim majorities. So what will Biden’s economic agenda entail at home and abroad? Below are five key themes.
U.S. stocks closed at record highs on Wednesday as Joe Biden was sworn in as the 46th U.S. president, while solid results from Netflix sparked a rally in shares of "stay-at-home" beneficiaries.