The NASDAQ gained 0.43% (or about 56 points) to 13,128.95. The FAANGs were all positive on the day, especially Netflix (NASDAQ: NFLX, +2.7%), Apple (NASDAQ:AAPL, +1.6%) and Amazon (NASDAQ:AMZN, +1.4%).
The S&P advanced 0.23% to 3809.84, but the Dow declined by 0.03% (or a little over 8 points) to 31,060.47.
Modest gains were noticed in the two major indices of the financial market on Wednesday, but stocks are still enjoying a bit of a rest from last week’s record-setting pace.
As the market is seeing a current ongoing uncertainties, it is definitely not a bad idea to take the break.
Stocks finished last week with new records as Democrats, who took both of Georgia’s recent Senate runoffs, are expected to be much looser with the government’s purse strings as we wait for the vaccines to take hold.
Last weekend investors saw a rising rates which led to the sobering of market. Monday was followed by losses that stocks haven’t recovered from just yet. However, the S&P and NASDAQ have now gained in back-to-back sessions.
It is expected to see the stock market picking up the pace in the coming days as the Biden administration’s covid stimulus plan is on it’s way tomorrow, it might come as a relief to the stock markets. The market will certainly be listening since stimulus is pretty much all it cares about right now. Not even an unprecedented second impeachment of the president could make a dent.