Nasdaq ends at records but Biden actions slam oil shares

22 Janvier, 2021, 02:06 | Auteur: Auguste Feret
  • A Wall St sign is seen near the New York Stock Exchange

Global shares mostly rose Thursday on optimism over the new US administration that earlier set off a rally on Wall Street.

The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labour market recovery.

France's CAC 40 gained 0.4% in early trading to 5,648.29, while Germany's DAX rose 0.6% to 14,003.82. S&P 500 futures rose 0.2% to 3,850.62.

Japan's Nikkei was up 0.72 per cent, less than one per cent off three-decade highs reached last week. Australia's S&P/ASX 200 gained 0.8% to 6,823.70, while South Korea's Kospi edged up 1.5% to 3,160.84.

Chinese blue-chips added 1.2 per cent, Australian shares climbed 0.69 per cent and Hong Kong's Hang Seng breached the 30,000 level, rising 0.31 per cent.

But other data showed the housing and manufacturing sectors as areas of strength to help buttress the economy. Imports declined 11.6%, marking the 20th straight month of declines. The Bank of Japan kept its easy monetary policy at its policy board meeting, as expected.

"We've had a very strong momentum going into this year and coming into the Biden administration. because of prospects of a bigger stimulus check and more spending in general", said Mohannad Aama, managing director at Beam Capital Management LLC in NY.

He has also pitched a plan to pump US$1.9 trillion more into the struggling economy, hoping to act quickly as his Democratic party takes control of the White House and both houses of Congress.

Bank of Canada | Policy rate decision Wednesday
Canada reported 4,679 new COVID-19 cases on Tuesday, and has seen more than 18,000 total deaths since the start of the pandemic. The bank is forecasting growth of four per cent this year, then 4.8 per cent next year, and finally 2.5 per cent in 2023.

Indigenous services minister says Quebec premier should show 'humanity' to homeless
But the premier said the number of hospitalizations will have to come down before he considers lifting restrictions. This story was produced with the financial assistance of the Facebook and Canadian Press News Fellowship .

Protesters gather, damage Democratic headquarters in Oregon
Multiple individuals in Portland, Oregon are in custody after Antifa and far-left protestors caused extensive damage to the area. Those threats never materialized and capitals across the country remained quiet on Inauguration Day.

The hope on Wall Street is that such stimulus will help carry the economy until later this year, when more widespread COVID-19 vaccinations get daily life closer to normal.

Biden took a flurry of executive actions in his first hours as president. Stocks tied to clean energy rose, continuing gains they have made since Biden won the election. The bump for stocks between Election Day and Biden's inauguration was bigger than Trump's bump between his election and inauguration.

The number of Americans filing new applications for unemployment benefits dipped to 900,000 last week, but still remained stubbornly high as the Covid-19 pandemic tears through the nation, raising the risk that the economy will shed jobs for a second straight month in January.

While the benchmark S&P 500 and the blue-chip Dow were about flat by 10:00 a.m. ET after gaining in the past two sessions, a jump in shares of technology heavyweights Alphabet Inc, Apple Inc and Amazon.com Inc lifted the Nasdaq by 0.2%.

"We think that global growth is going to continue to pick up", she said.

Energy, financial and industrial stocks, which have helped the S&P 500 rally 14% since the November 3 presidential election, fell between 0.3% and 1.3%.

Ford Motor Co jumped 6.2 per cent, extending gains for a second straight day after Deutsche Bank raised its price target on the United States automaker's stock. The euro cost $1.2119, down from $1.2134.

Conseillé:



Populaire

U.K. European Union in spat over diplomatic status of bloc's ambassador
The EU argues it is not a typical worldwide organisation. "Strange position for Brexiteers to take", he added. The Vienna Convention grants diplomats immunity from detention, criminal jurisdiction and taxation.

Aston Villa boss Dean Smith: Outbreak caught us on the hop
After a spluttering start, second-placed City are hitting their stride and sit two points behind leaders Manchester United. But that would also rule out other types of goals scored when players standing in such positions play no part in them.

Clare Crawley Reveals Her Side Of The Breakup With Dale Moss
However, the reality star hasn't given up on finding love. "It hasn't been ideal circumstances, but that is life right", she said. Following the news, a source told PEOPLE that Moss was not ready to take the next steps in the relationship.

Russia tells social networks: Stop promoting anti-Kremlin Navalny protests to minors
Timeline of the poisoning of Russian opposition campaigner Alexei Navalny to his arrest shortly after arrival at Moscow airport. Authorities have said the planned rallies are illegal and that people who make such calls would be held to account.

Eric Church, Jazmine Sullivan singing National Anthem at Super Bowl LV
Grammy-award winning artist, H.E.R., will join the pregame lineup with her rendition of America the attractive . This year, the National Anthem will be arranged by Emmy-nominated producer Adam Blackstone .

Fire hits building at Indian producer of COVID-19 vaccines
The Manjari facility is where the Covishield vaccine used in the nationwide inoculation drive against the pandemic is made. Up to nine buildings are under construction at the complex to enhance Serum's manufacturing capability, NDTV reported.

Dolly Parton marks 75th birthday with 'call for kindness'
Parton said: "I always encourage people to dream big but I also take great care to follow that up with the message to work hard. Parton also said past year that she'd be up for appearing on the cover of Playboy again in commemoration of her 75th birthday .

Trump could call Putin before storming the Capitol - World News - UNIAN
The current location of the computer has not been disclosed in court documents, and was not discussed in court on Thursday. In announcing the decision to release Williams from federal custody on Thursday, Magistrate Judge Martin C.

Au Rallye Monte-Carlo remanié, Ogier veut briller une dernière fois
L'épreuve reine lance la saison de WRC, sans spectateurs ni spéciales en soirée et sur un parcours raccourci. Les pilotes rouleront tôt le matin et le public ne sera pas autorisé.

Tiger Woods undergoes back surgery, out indefinitely
And by April 2017, with Woods having played three competitive rounds in the previous 20 months, all else had failed. He also will miss the Genesis Invitational on February 18-21 at Riviera, where he serves as tournament host.