Weekly gains for stocks to start 2021 | Trump to skip Biden inauguration | 'USA variant' driving Covid-19 spread?

FRI, JAN 08, 2021

EVENING BRIEF

AS OF FRI, JAN 08, 2021 • 04:28 ET

DJIA		31097.97
		+0.18%	+56.84

S&P 500		3824.68
		+0.55%	+20.89

NASDAQ		13201.97
		+1.03%	+134.49

Most Active

DOW
NAME	LAST	CHG	%CHG
AAPL	132.05	+1.13	+0.86%
INTC	51.65	-0.54	-1.03%
VZ	57.80	-0.73	-1.25%

S&P 500
NAME	LAST	CHG	%CHG
AAPL	132.05	+1.13	+0.86%
TSLA	880.02	+63.98	+7.84%
GE	11.34	+0.07	+0.62%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	132.05	+1.13	+0.86%
TSLA	880.02	+63.98	+7.84%
SIRI	5.91	-0.51	-7.94%

EDITOR'S NOTE

Uncertainty about the size of a potential new coronavirus stimulus package briefly sent investors for a loop on Friday.

Democratic Sen. Joe Manchin told The Washington Post he would "absolutely not" support a round of $2,000 stimulus checks. President-elect Joe Biden had promised to pass a measure for bigger payments if Democrats secured a Senate majority, which they did earlier this week.

That comment sent the Dow Jones Industrial Average down more than 200 points before it closed up 56 points, or 0.2%. The S&P 500 and Nasdaq also dipped into negative territory, but later recovered to close at record highs along with the Dow.

"Sen. Manchin's comment here is really significant," Bill Miller, founder of Miller Value Partners, told CNBC's "The Exchange" on Friday. "People are worried now that the Senate will be controlled by Democrats, which it will be mathematically. But the key is going to be Sen. Manchin from West Virginia, Sen. Collins [from Maine] — the moderates."

"Nothing is going to get passed if they can't get the moderates in the Democratic Party, or the Republican Party for that matter, to go along with it," Miller added.

Manchin's office then clarified that Manchin was undecided on any future stimulus proposal and was not outright opposed to an aid check of $2,000 for Americans, CNBC's Kayla Tausche reported. The major averages bounced off their lows on the comments out of Manchin's office.

Despite Friday's swings and the unrest in Washington earlier in the week, the major averages posted strong weekly gains to start 2021. For the week, the Dow and S&P 500 rose more than 1%, and the Nasdaq Composite advanced 2.4%.

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