As Trump leaves the White House, markets around the world are bustling, paving the way for President-elect Joe Biden to take over at tonight’s much-anticipated inauguration.
After several days of restrained activity beyond global stocks at the beginning of the week, pent-up excitement surrounding Biden’s big day after being partially hampered by US public holidays to commemorate Martin Luther King It seems all of them have finally got caught up in it.
NASDAQ (IndexNasdaq:.ixic) rose to an all-time high as Netflix stocks surged 13%. This is an increase in the index at 13,429.33 points (15:49 GMT) now, up 1.76%. Dow Jones (indexDJX: .DJI) likewise enjoyed a +236.79 point surge to 31,167.31 (GMT 15:50), while the S&P 500 (indexSP: .inx) increased by +1.12% to 3,841.46 points (GMT 15:51 ).
Catching optimism from across the pond, European indicators also robbed of anxiety, with DAX (indexDB:DAX) increasing by 0.76% to 13,920.25 points (GMT 15:56) and CAC (Indexeuro: PX1) +0.54% 5,628.67 (GMT 15:57).
On the other hand, FTSE (indexftse:ukx) clearly did not experience the same kind of joy. While considering a three-year high from the pound following an increase in inflation, the Blue Chip index’s growth is limited to just 0.31% (15:58 GMT).
Commenting on sentiment in the near-similar market today, Connor Campbell from Spreadex Financial Analyst:
“Now, the Biden administration has become a way for hours since it was sworn in, so investors are willing to see the future. The most pressing point is COVID-19 at both financial and medical levels. Includes consistent efforts to tackle the virus – completely lacking for a long time – spending on Greentech and potentially less difficult international relations between the state and the world.”
But with Biden’s inauguration just beginning, and the sun rises in the New Democrat administration, the market may need a little longer to settle for a fully adjusted response.
“The day is not over yet,” Campbell added. But it is the beginning of a new era in America and hopes it will help to promote the end of our current nightmare. ”
