stock market today
A higher close for the US stock market today ahead of the new president inauguration. The closing numbers for the US stock market at the close today:
S&P 500: 3,798.91,+30.66(+0.81%)
Dow 30: 30,930.52,+116.26(+0.38%)
Russell 2000: 2,151.14,+27.94(+1.32%)
Stock market data: Yahoo Finance
stock market news
“Stocks rose Tuesday as traders returned from a long holiday weekend in the U.S. and eyed signs of mounting support for significant fiscal stimulus out of Washington.
Each of the three major indexes advanced, and the Nasdaq outperformed with a jump of more than 1%. Bank stocks were mostly higher after Dow-component Goldman Sachs (GS) posted fourth-quarter results that handily exceeded expectations, even as Bank of America’s (BAC) quarterly report largely disappointed.
On Tuesday, the Senate Finance Committee held a hearing for President-elect Joe Biden’s nomination of Janet Yellen for Treasury Secretary, in one of the closely watched Cabinet confirmation hearings of the week. In her remarks, Yellen advocated for major fiscal action to help support the virus-stricken economy, and told Congress to “act big” when it came to more aid. In a wide-ranging dialogue with lawmakers, Yellen also said she would support the Biden administration’s goals of tackling climate issues, and addressing “unfair and illegal practices” out of China.
Prospects of additional fiscal stimulus have buoyed stocks over the past couple weeks, and have come alongside Federal Reserve officials’ commitments to keeping monetary policy easy during the pandemic period. These moves have in turn helped keep an anchor on interest rates – though the recent creep higher in the benchmark 10-year yield in tandem with still-rising stock prices has begun to give some traders pause.”