US: Dow, Nasdaq hit record highs as focus turns to Biden's stimulus plan

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[NEW YORK] The Dow and the Nasdaq hit record highs on Thursday in anticipation of President-elect Joe Biden's pandemic aid proposal to jump-start a struggling economy after data highlighted weakening labour market conditions. Read more at The Business Times.

"There is a little bit of a fear of 'sell on the news' that when is actually introduced, it won't be as large as some people like or it's possible that market will start to look at how it's going to be paid for." Among individual stocks, Delta Air Lines gained about 5 per cent as chief executive Ed Bastian forecast 2021 to be"the year of recovery" after the coronavirus pandemic prompted its first annual loss in 11 years.

Meanwhile, President Donald Trump became the first president in US history to be impeached twice when the House voted 232-197 on Wednesday to charge him with inciting riots at the Capitol. The impeachment proceedings threaten to hang over the beginning of Mr Biden's term.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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