For Tech-Heavy Nasdaq, It's a Milestone Day

Index closes above 13K for the first time

By Newser Editors, Newser Staff

Posted Jan 7, 2021 3:08 PM CST

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For Tech-Heavy Nasdaq, It's a Milestone Day — In this photo provided by the New York Stock Exchange, trader Gregory Rowe works on the trading floor Thursday, Jan. 7, 2021. (Nicole Pereira/New York Stock Exchange via AP)

Wall Street kept pushing into record territory on Thursday despite the chaos in Washington. The Dow rose 211 points (0.6%) to 31,041, the S&P 500 rose 55 points (1.4%) to 3,803, and the Nasdaq surged 326 points (2.5%) to 13,067. That's the first time the tech-heavy Nasdaq has closed above 13,000, notes CNBC. The Wall Street Journal reports that tech and financial stocks led the day's charge, and the newspaper notes that investors are happy about the likelihood of additional COVID stimulus with Democrats in charge of the Senate.

“The expectations are shifting to more stimulus, sooner, which is generally better for the economy and better for the market as well,” Rob Haworth of US Bank Wealth Management tells the AP. In addition to the short-term stimulus, investors continue to be optimistic about the long-term picture because of the continuing rollout of vaccines.

(More stock market stories.)

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