January 20, 2021

January 20, 2021

Stocks climbed for a second day to record levels as President Joe Biden was sworn into office, while a slew of strong corporate earnings boosted sentiment on Wall Street.

 

Dow Jones finished +258 at 31,188

S&P 500 finished +53 at 3,851

NASDAQ finished +260 at 13,457

 

The 10 Year Treasury closed down 1 basis point yielding 1.08%

Oil prices closed up $0.30 ending at $53.28 a barrel.

Gold prices closed up $28.60 ending at $1,868 an ounce.

 

In the days’ stock news:

 

  • Netflix closed up more than 16% after the company’s fourth quarter report beat Wall Street expectations for revenue and subscribers, which topped 200 million. Netflix also said it would consider stock buybacks and it expects to break even on a cash flow basis this year.
  • Penn National Gaming closed up more than 5% with the company receiving an outperforming rating. The Wall Street firm said the company has the potential to claim leadership in online betting, and that it sees upside to targeted cost savings and better-than-expected margins.

 

 

 

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