Dow, S&P 500 and Nasdaq jump to records | Wall Street shakes off unrest in Washington | Facebook blocks Trump

THU, JAN 07, 2021

EVENING BRIEF

AS OF THU, JAN 07, 2021 • 04:33 ET

DJIA		31041.13
		+0.69%	+211.73

S&P 500		3803.79
		+1.48%	+55.65

NASDAQ		13067.48
		+2.56%	+326.69

Most Active

DOW
NAME	LAST	CHG	%CHG
AAPL	130.92	+4.32	+3.41%
KO	49.96	-0.56	-1.11%
INTC	52.19	+1.09	+2.13%

S&P 500
NAME	LAST	CHG	%CHG
AAPL	130.92	+4.32	+3.41%
F	9.06	+0.22	+2.49%
GE	11.27	-0.09	-0.79%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	130.92	+4.32	+3.41%
TSLA	816.04	+60.06	+7.94%
AMD	95.16	+4.83	+5.35%

EDITOR'S NOTE

Stocks rallied to fresh record highs Thursday as traders for a second straight day looked beyond the chaos of the riot at the U.S. Capitol.

The Dow Jones Industrial Average ended the day up more than 200 points, or 0.7%. The S&P 500 advanced 1.5%, and the Nasdaq Composite surged 2.6%. Thursday's session marked the first time the S&P 500 and Nasdaq broke above 3,800 and 13,000, respectively.

On Wednesday, pro-Trump rioters stormed the U.S. Capitol just as lawmakers started the procedural process of counting Electoral College votes and formally declaring Joe Biden winner of the 2020 election.

Congress reconvened to continue the process late Wednesday evening after the Capitol building was secured. That affirmation came early Thursday morning. Despite these events, the major averages have stayed on their upward trend, reaching all-time highs.

"There should be no mystery as to why the markets didn't care about what happened in the Capital [on Wednesday], however disturbing, disgraceful, and embarrassing it was," said Peter Boockvar, chief investment officer at Bleakley Advisory Group. "It's because it has no bearing on the direction of the economy, earnings and interest rates. It's that simple."

Fundstrat's Tom Lee also pointed out the market has been largely unaffected by these events because they will not "change the transition of power."

Meanwhile, Social Capital CEO Chamath Palihapitiya noted on CNBC's "Halftime Report" that the savings accumulated by consumers from staying home during the coronavirus pandemic will serve as "rocket fuel" for assets such as housing and stocks.

"Whether those are housing markets, or whether those are capital purchases like cars or vacations, or stocks in this case — if we're still under a lockdown, these things are just going to go to the moon for a while," he said Thursday.

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