Wall Street welcomed the new president Joe Biden with assault … to all-time highs. The Big Three New York Indices added another step in their climb on this Wednesday in which the Democratic leader takes the reins of the White House. The good tone of some annual corporate accounts such as those of Netflix.
The definitive handover of power now it had been held in advance in the park. In this sense, Biden acceded to the presidency after the best Wall Street election rally in the last 92 years. Almost a century ago the American stock market had not celebrated a political change with such euphoria, something to which the confirmation of the “blue wave” that gives a Democratic majority in the US Senate and Congress has especially contributed.
The celebration of a transfer of power that a few weeks ago even came to be questioned was pulling the New York indices up. He Dow Jones it rose 0.83% to reach 31,188.4 points for the first time. 1.39% earned the S&P 500, which conquered 3,851.8 points. The accounts of the audiovisual technology giant promoted the Nasdaq 1.97% up to 13,457.3 integers.
This is how Wall Street opens
Waiting to meet what will be the first measures of Biden as president from the US, had already advanced that it plans to release a new package of subsidies for 1.9 trillion dollars. Incentives aimed especially at companies and families in situations of more vulnerability.
Although the situation of the pandemic remains uncontrolled in the country, where the figures for yesterday Tuesday have resulted in the 400,000 deaths from Covid-19 already being exceeded, one of the key data of the session invited optimism. The index of Redbook retail sales it was up 2.2% from its same reading a year ago.
High on Netflix
Beyond the presidential ceremony in Washington DC, the focus of the session was on the results that some American giants are trading on Wednesday. Definitely Netflix was the great highlight, as it also reached historical highs when trading with gains of 16.85% a profit of 2,761.4 million dollars at the end of 2020, which is 47.9% more than a year ago, thanks mainly to a bountiful crop of subscribers, which are already 203.6 million.
The actions of Morgan stanley they lost 0.24% when matching their accounts. The investment bank thus traded a attributable net profit of $ 10,996 million at the close of fiscal year 2020. This figure represented an increase of 22% compared to the previous year thanks to the positive contribution of its three business segments.
Ma boosts Alibaba
Against the current, the consumer and hygiene group Procter & Gamble (P&G) fell 1.25% after announcing an attributable net profit of $ 3,854 million between the months of October and December. The owner of brands like Ariel and Gillette got some 8.2% higher sales than the same period a year earlier, but below consensus estimates.
For very different reasons, Alibaba was the target of many purchase orders once its founder, Jack Ma reappeared on the public scene after three months in which the Chinese authorities have closely marked the activities of the technology giant. Its shares were up 5.49% on Wall Street after adding 8.5% on the Hong Kong Stock Exchange.