Tuesday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite surged on Tuesday.
- The Dow Jones Industrial Average gained 167.71 or 0.55 percent, to close at 30,391.60.
- The S&P 500 gained 0.71 percent to close at 3,726.86.
- The Nasdaq Composite gained 0.95 percent to close at 12,818.96.
Stocks rose on Tuesday as investors analyzed the Georgia Senate runoff elections and COVID measures.
“[A Senate with a Democratic majority] would lead to greater fiscal stimulus — we would expect around $600bn more on top of the recently enacted $900bn — but would also likely mean tax increases to finance additional spending,” Goldman Sachs economists led by Jan Hatzius said.
“Regarding the latter, we would expect that an evenly divided Senate would approve only a fraction of the tax increases the Biden campaign proposed.”
On Wednesday keep an eye out for:
- ADP Employment Change
- FOMC Minutes
- Factory Orders (MoM)