The Nasdaq 100 Index jumped more than 2% and the S&P 500 Index rose to an all-time high. The broader measure is poised for the best first-day reaction to an elected president’s inauguration since Jan. 20 became the official start in 1937. Netflix Inc. surged more than 13% after a jump in subscribers. Chipmaker ASML Holding NV rallied on solid results. Morgan Stanley gained afterInvestors also kept an eye on Washington, where Joe Biden was sworn in as president and delivered a call for unity.
Investors are counting on more spending to help propel economic growth under Biden, who is planning a flurry of executiveresistanceYellen — who could be confirmed as soon as Thursday — said that help for the unemployed and small businesses would provide the “biggest bang for the buck.” She urged lawmakers to act in efforts to rescue an economy battered by the coronavirus. She also said the U.S.
Policy decisions are due Wednesday from central banks in Brazil and Canada. The Bank of Japan and the ECB deliver decisions Thursday.The S&P 500 Index increased 1.4% as of 2:08 p.m. New York time, the highest on record with the largest climb in almost two weeks.The Nasdaq Composite Index gained 1.7% to 13,420.14, the highest on record with the largest climb in almost two weeks.