Each of the S&P 500, Dow and Nasdaq ended the regular session at record levels, and the S&P 500 posted its best Inauguration Day return since Ronald Reagan’s second inauguration in 1985.
Stocks rose Wednesday, extending Tuesday’s advances as investors looked ahead to the first actions of the incoming Biden administration. Each of the three major indexes reached record intraday and closing highs, and the Nasdaq outperformed with a gain of nearly 2%. Shares of Netflix spiked more than 16% after the company added more users than expected in the fourth quarter and surpassed 200 million paid subscribers for the first time ever. Global Investment Specialist JPM Private Bank Patrick Schaffer and the Head of Macro Strategy at Academy Securities, Peter Tchir, joined Yahoo Finance Live to break down the details.
Yahoo Finance’s Alexis Christoforous and Akiko Fujita along with Greg Valliere, Chief US Policy Strategist at AGF Investments, discuss the latest market moves on Inauguration Day.