Thursday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite surged on Thursday.
- The Dow Jones Industrial Average surged 211.73 or 0.69 percent, to close at 31,041.13.
- The S&P 500 gained 1.48 percent to close at 3,803.79.
- The Nasdaq Composite outperformed 2.56 percent to close at 13,067.48.
Stocks surged as investors shrugged off the political unrest in Congress yesterday and started to anticipate what the next two years would look like politically.
“When I look at the market reaction here … there is a recognition here that there is a certain inevitability in terms of what happens on January 20,” said Raymond James analyst Ed Mills. “It’s not as if there’s a situation based upon any protest that keeps Donald Trump as president at this point.”
“The market is more focused on, what are the policies of the next two years with the Congress that was voted in with the final election last night? What are the policies over the next four years?” Mills added. “They’re looking at COVID, they see vaccines being distributed. They are looking at a reopening.”
Tomorrow keep an eye out for:
- Nonfarm Payrolls
- Labor Force Participation Rate