Emily McCormick·ReporterThu, January 7, 2021, 11:35 AM EST·8 min read
U.S. stocks gained Thursday as traders shook off Wednesday’s unrest in Washington and looked ahead to the policy implications of the incoming presidential administration and Congress. Optimism over more stimulus under a unified Democratic government stoked a risk-on mood.
The S&P 500 gained 1.5% to reach a record high, and the Dow also rose to a record intraday level. The Nasdaq recovered Wednesday’s losses, outperforming with a jump of more than 2.3% to break above 13,000. Overnight, Congress certified President-elect Joe Biden’s victory in the Electoral College and formally recognized him as the next president, with lawmakers reconvening hours after protesters supporting President Donald Trump swarmed inside the Capitol and forced the building to lock down and lawmakers to evacuate.