Dow rises more than 100 points to start the week, tech stocks lead the gain
Stocks climbed on Tuesday, rebounding from a losing week, as investors digested results from the new earnings season as well as signals for another big stimulus and faster pace of vaccine distribution ahead.
The Dow Jones Industrial Average rose 116.26 points, or 0.4%, to 30,930.52. The S&P 500 gained 0.8% to 3,798.91, led by energy and communication services sectors. The tech-heavy Nasdaq Composite outperformed with a 1.5% gain to 13,197.18.
Janet Yellen, President-elect Joe Biden’s designated nominee for Treasury Secretary and a former chair of the Federal Reserve, appeared before the Senate Finance Committee on Tuesday. Yellen called for the federal government to enact a large stimulus to help the economy.
Dr. Rochelle Walensky, Biden’s pick to lead the Centers for Disease Control and Prevention, said Sunday that she’s confident the U.S. will have enough vaccine doses to meet the incoming administration’s goal of inoculating 100 million people in 100 days.
Netflix shares rise 13% on strong subscriber growth, considers share buybacks
- Earnings per share (EPS): $1.19 vs $1.39 expected, according to Refinitiv survey of analysts
- Revenue: $6.64 billion vs $6.626 billion expected, according to Refinitiv
- Global paid net subscriber additions: 8.5 million vs 6.47 million expected, according to StreetAccount
Reference: CNBC
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