Stocks rose despite the escalating protests at the U.S. Capitol.
 | WED, JAN 06, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 126.60 | -4.41 | -3.37% | | KO | 50.52 | -1.66 | -3.18% | | INTC | 51.10 | +0.49 | +0.97% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 126.60 | -4.41 | -3.37% | | GE | 11.36 | +0.59 | +5.48% | | BAC | 32.15 | +1.89 | +6.25% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 126.60 | -4.41 | -3.37% | | AMD | 90.33 | -2.44 | -2.63% | | TSLA | 755.98 | +20.87 | +2.84% | |
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The stock market overlooked the escalating protests at the U.S. Capitol with the Dow Jones Industrial Average closing at a record. The Dow rose 437.80 points higher, or 1.4%. The S&P 500 notched an intraday all-time high, and closed higher by 0.6%. The Nasdaq Composite, meanwhile, ended the day down 0.6%. Wednesday's record-setting moves came as traders bet on the prospects of additional coronavirus fiscal stimulus as results from the Senate runoff elections in Georgia rolled in.  Democrat Raphael Warnock was projected to win the Georgia U.S. Senate special election runoff against incumbent Republican Kelly Loeffler, according to NBC News. In the other Senate runoff election, Democrat Jon Ossoff was also projected to defeat Republican Sen. David Perdue, NBC said. This outcome could facilitate the passing of new Covid relief, raising hope for the country's economic recovery. "In the immediate term, markets are pricing in more stimulus. From an equity standpoint, that means tech underperformance and cyclical/value outperformance," Tom Essaye, founder of Sevens Report, said in a note. "The biggest takeaway from the Democrats win is more power behind the cyclical/value/higher rates trade." Catch The News with Shepard Smith at 7 p.m. ET on CNBC. The nightly newscast provides deep, non-partisan coverage and perspective on the day's most important stories. |
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