US STOCKS-Wall Street is taller due to Georgia runoff – tech2.org

US STOCKS-Wall Street is taller due to Georgia runoff


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* Major voters at polling stations in Georgia

* US-listed Chinese Cos Jump banned after NYSE decision

* Micron jumps after City’s double upgrade

* Wall Street’s fear gauge slips after Monday’s boom

* Index: Dow adds 0.19%, S&P 0.32%, Nasdaq 0.50% (comment, description, update price);

Jan. 5 (Reuters) – Wall Street’s main indices climbed on Tuesday as investors took advantage of the previous session’s recession while the battlegrounds were awaiting the outcome of Georgia’s Senate runoff elections, which determine the balance of power in Washington Will do.

The latest surveys from the data website 538 gave a slight edge to two Democratic challengers who need to win both races for Democrats to gain US Senate control from Republicans.

With its narrow majority in the House of Representatives, a “blue sweep” of Congress could usher in large fiscal stimulus. This could pave the way for President-elect Joe Biden to move through greater corporate regulation and higher taxes.

“There’s a part of the investment community that worries that Georgia Democrats vote, that taxes are going to increase and policy is going to be extreme. But it’s a minority of the investment population,” Fairfield, Connecticut Said Robert Pavlik, senior portfolio manager at Dakota Wealth.

“Most investment communities still believe that this is not the end of the world.”

The Coby Volatility Index went flip-flop after closing at its highest level in two months in the prior session, with Wall Street’s main index hitting a two-week low as investors posted profits at the start of the year.

At 11:40 pm ET The Jones Industrial Average rose 56.91 points or 0.19% to 30,280.18, the S&P 500 rose 11.78 points or 0.32% to 3,712.46 and the Nasdaid Composite rose 63.28 points or 0.50% to 12,761.73.

Energy stocks rose nearly 2% due to high oil prices.

Consumers were Staples, Utilities and Healthcare Lagarde.

Although recent vaccine rollouts and large-scale monetary support have driven major US stock indexes to record levels, the discovery of a more infectious strain of coronovirus and the latest actions related to the virus have messed up the economic outlook.

Britain launches its third national lockout. Meanwhile, New York on Monday found the first case of a highly contagious version of coronovirus.

“The market may see more havoc in the first quarter as investors try to digest soft economic data due to the current economic downturn,” said Sam Stowal, CFRA Research’s chief investment strategist.

ISM’s survey showed that US manufacturing activity reached its highest level in nearly 2-1 / 2 years in December, possibly spiraling demand as new COVID-19 transitions pulled goods away from services.

Chipmaker Micron Technology Inc. rose nearly 5% after Citigroup raised its rating to “buy” the stock on hopes of improving demand and pricing for DRAM chips.

US-listed shares of China Telecom Corp Ltd and China Mobile Ltd each gained nearly 10%, while China Unicom Hong Kong Ltd advanced 14% after reversing its decision to delist the NYSE shares.

Outlining decliners outpaced by a 2.2-to-1 ratio on the NYSE and a 2.1-to-1 ratio on the Nasdaq.

The S&P 500 posted 12 new 52-week highs and no new lows, while Nasdaq recorded 103 new highs and seven new cows. (Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Anil DeSilva)

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