Jan. 6, 2021
Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Wednesday, January 6, 2021).
Both the S&P 500 and the Dow Jones closed positive today. In particular, while the S&P 500 closed up 0.57%, the Dow Jones was up 1.44% reaching a new all-time high.
The Nasdaq closed negative instead, down 0.61% today. Investors might be afraid of the new Congress majority imposing regulation and raising taxes on high margin business such as companies from the tech sector.
Why did the stock market move today?
Investors reacted very positively to the Georgia runoff election result, with indexes starting the day in deep green. The expectations of a boost in the stimulus for a quick economic recovery drove stocks high today.
The optimism has been only partially offset by the riots seen in Washington, with hundreds of Trump supporters who were able to break into the Capitol Building.
Stock of the day
With the prospect of a Democratic Congress enacting regulation to realize the shift towards renewable energy, stocks in solar and green energy companies surged today.
Among these, investors in First Solar, Inc. (NASDAQ: FSLR) saw their stocks jump more than 8% today.
That’s all for this Wednesday’s stock market update. Stay tuned to receive your daily update!