Stock futures stabilized after markets hit record levels in the previous session, and Biden took office

Stock futures stabilized after markets hit record levels in the previous session, and Biden took office

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US equity futures were flat in overnight trading on Wednesday after major averages hit record highs on the opening day.

Dow futures rose 24 points. S&P 500 futures rose 0.05% and Nasdaq 100 futures rose 0.15%.

Major American Airlines, United States of America, fell more than 2% in extended trading on Wednesday after missing its net profit Quarterly profit. The airline has warned that sales will continue to struggle in the first part of 2021 Coronavirus pandemic Continue on.

US stocks rose to record highs Wednesday As the latest batch of powerful corporate profits, Joe Biden was sworn in as commander in chief.

The Dow Jones Industrial Average rose more than 250 points to close at a record high. Microsoft had the most positive impact on the Dow, adding 52 points to the index.

The S&P 500 rose 1.4%, hitting an all-time high.

The Nasdaq Composite Index rose nearly 2% to close at a record high. The tech heavyweight was supported by a 16% jump in Netflix shares on the back of the broadcast giants’ strong earnings and subscriber results.

The Russell 2000 Small Capital Standard stood out at 0.44%.

Biden was sworn in as the 46th President of the United States on Wednesday, succeeding former President Donald Trump. Biden announced, during his inauguration speech, in which he called on Americans to reject efforts to sow division and pledged to work for the voters who did not support him, Democracy prevailed. Biden is expected to work on his proposed $ 1.9 trillion coronavirus relief project.

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Wednesday “may have less to do with the inauguration than the start of a new earnings season and with investors taking advantage of recent performance to soften the winners in favor of adding some new era shares that could be a pioneer,” said Jim Paulsen, chief investment analyst at Leuthold Group, “a quarter of the profits.” good”.

“It may simply reflect a simultaneous global economic recovery supported by unprecedented incentives and close vaccinations. With such a background, it could rise regardless of the president,” Paulson added.

Earnings season continues on Thursday with reports from Baker Hughes, Union Pacific and Citrix ahead of the bell. Intel, IBM and CSX report after the closing bell on Thursday.

The Labor Department will release unemployment claims data last week at 8:30 am on Thursday. Economists polled by Dow Jones forecast that 925,000 Americans filed for unemployment last week, down from the previous week’s 965,000.

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