NewsUS stocks hit record highs as Biden's presidency begins

US stocks hit record highs as Biden’s presidency begins

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Washington (US): Stocks on Wall Street hit record highs on Wednesday as Joe Biden began his term as the 46th US president, promising to unite the country and restore its economy from the ravages of the coronavirus pandemic.

The Dow Jones Industrial Average, Wall Street’s broadest stocks gauge, settled the day at 31,1888, up 0.8 percent. It hit an all-time high at 31,236 earlier.

The S&P 500, a barometer for the top 500 US stocks on the New York Stock Exchange, settled at 3,850, up 1.4 percent, after an all-time high of 3,860 earlier.

The technology-laden Nasdaq index, which counts on the performance of tech stock giants such as Facebook, Apple, Amazon, Netflix and Google, was the outperformer of the day, finishing up 2 percent at 13,457.

Its session peak was 13,486. 

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