Stock market today January 8, 2021

stock market today

The US stock market closed higher with major stock indices making new highs. Small-cap stocks underperformed. The closing numbers for the US stock market today are:

S&P 500: 3,824.68,+20.89(+0.55%)
Dow 30: 31,097.97,+56.84(+0.18%)
Nasdaq: 13,201.98,+134.50(+1.03%)
Russell 2000: 2,091.66,-5.23(-0.25%)

stock market news

“Stocks ended a choppy session at record highs Friday afternoon as investors attempted to gauge the likelihood of additional stimulus out of Washington.

The three major indices fluctuated between gains and losses throughout the session, at one point turning negative following a report that additional stimulus out of Washington still faced roadblocks within the Senate. The Washington Post reported Friday afternoon that Democratic Senator Joe Manchin of West Virginia said he would “absolutely not” back another round of stimulus checks, suggesting Democratic lawmakers still faced hurdles in advancing more stimulus even with control of the chamber.

Still, the S&P 500 ended at a record closing high, as a weaker-than-expected jobs report Friday morning and Democratic sweep of the Georgia Senate run-off races earlier this week stoked optimism for still-more aid from Washington to support the economy. The index’s one-week gain totaled 1.8% in its first week of trading in 2021. Bitcoin prices held above $40,000, and U.S. crude oil prices buoyed over $51 per barrel.

Equity investors, once concerned about the prospects of a unified Democratic government, had been increasingly warming to the political backdrop solidified after the Georgia Senate runoff elections this week. To many market participants, the new composition of Congress increased the odds of virus relief stimulus advancing in the near-term. Credit Suisse on Thursday upgraded its 2021 outlook for the S&P 500 to 4,200 from 4,050 to imply additional upside of 10.4% from the index’s record close, largely on account of the likelihood for more stimulus and a boost to consumer spending.”

Stock market data: Yahoo Finance

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