US: Stocks gain ahead of Biden inauguration

[NEW YORK] The Nasdaq led US stocks higher early Wednesday ahead of the inauguration of President-elect Joe Biden amid hopes for more stimulus spending and an improved rollout of coronavirus vaccines.

The broad-based S&P 500 has risen about nine per cent since Mr Biden was declared the winner of the November election, which came just ahead of regulatory approvals of the first Covid-19 vaccines. Mr Biden is expected to emphasise the need for national unity after the contentious presidency of Donald Trump.

About 20 minutes into trading, the Dow Jones Industrial Average was up 0.3 per cent at 31,035.21, while the S&P 500 gained 0.7 per cent to 3,826.46.Stay updated with

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