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American markets made new record highs Wednesday as Joe Biden was sworn in as the new U.S. president. The Nasdaq soared 1.97%, the S&P 1.39%, the Dow 0.83% and the Russell 2000 0.46%. Apart from the Russell, the indices closed on strength, led by tech stocks, including Amazon 4.69%, Apple 3.29% and Microsoft 3.65%. A strong quarterly report from Netflix helped lift stocks as the streamer boasted a slam-dunk subscriber beat; shares shot up 16.85%. Beyond tech, Nike rose 2.53%, Visa 2.16% and McDonald‘s 2.17%.
Fortunately, no violence was reported in Washington or in state capitals during the ceremony. In his inauguration speech, Biden stressed his priority was in taming the Covid pandemic.
The TSX didn’t make a record close, but returned to 18,000 territory as it gained 0.32%, led by real estate, materials and tech. Big movers included Meg Energy up 9.76%, First Majestic Silver at 9.26% and Vermilion Energy at 5.7%. Biden confirmed he will block the Keystone XL pipeline; TC Energy slipped 1.15%. However, Biden will also invest in green energy, breathing life into stocks like Lithium Americas, which soared Tuesday, but gave back half of those gains Wedesday by 17.41%. The Canadian dollar rose to $79.11 against the USD, Bitcoin shed 4% and gold climbed 1.6%. North American markets resoundingly welcomed Biden to the White House.
📦 Amazon.com +4.69%
🍎 Apple +3.29%
Ⓜ Microsoft +3.65%
📺 Netflix Inc. +16.85%
👟 Nike Inc +2.53%
💳 Visa Inc. +2.16%
🍔 McDonalds +2.17%
🛢 MEG Energy Corp +9.76%
🥈 First Majestic Silver +9.26%
🛢 Vermilion Energy Inc +5.7%
🛢 TC Energy -1.15%
🥈 Lithium Americas Corp -17.41%
