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Dow, S&P 500 scale new highs on possible Democrat sweep in Georgia

Dow, S&P 500 scale new highs on possible Democrat sweep in Georgia
netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.

Banks, Industrials Lift Dow, S&P 500 On Possible Democrat Sweep In Georgia

Financials hit a 1-year high, while materials, industrial and energy sectors climbed over 1%. Banks shares jumped about 5%, tracking a sharp rise in the benchmark 10-year U.S. Treasury yield. [US/] Democrats won one U.S. Senate race in Georgia and led in another, moving closer to a sweep in a deep South state that would give them control of Congress and the power to advance President-elect Joe Biden’s policy goals. A final outcome is not expected until later on Wednesday. “There will be beneficiaries of a Democratic sweep and there are companies in the Nasdaq – technology and healthcare – that could potentially face some short-term headwinds when it comes to higher taxes and more regulation, impacting their bottom lines,” said Tim Chubb, chief investment officer at GIRARD in West Chester, Pennsylvania.

Gold slides back towards $1900 level as real US yields rally

Jan 6, 2021 18:47 GMTFXStreet News Rising real US bond yields have put downwards pressure on precious metals such as gold. XAU/USD has slipped back towards the $1900 level, but rising inflation expectations could act as supportive. Coming within a few dollar of November 2020 highs just above $1960 in the early part of Wednesday’s European session, spot gold prices (XAU/USD) have declined back towards the $1900 level in recent trade. The psychological nature of the $1900 level, as well as support in the form of 21, 28 and 31 December 2020 highs between $1900-$1906, is acting in support of the price action for now. Spot prices currently trade around $1905 and with losses of over 2.0% or more than $40 on the day.

Nasdaq set to slump on prospects of Democrat-controlled Senate

Nasdaq set to slump on prospects of Democrat-controlled Senate
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

The Finance 202: Biden team extends welcome olive branch to K Street

The Finance 202: Biden team extends welcome olive branch to K Street
washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.

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