On Tuesday, the New York Stock Exchange returned to the upside, despite dipping for the first session of 2021 on Monday. On Tuesday, investors are watching Georgia’s two Senate polls that will decide the Senate’s political picture. Although Wall Street sees a potential “blue wave” in Congress, associated with tax hikes, others point out that a major new spending package might be approved by the Democratic Congress against Covid-19, encouraging economic growth and therefore the stock market.
At the close, the Dow Jones index rose 0.55 percent to 30,391 points (after -1.25 percent on Monday), while the large S&P 500 index improved 0.71 percent to 3,726 points (-1.5 percent on Monday), and the Nasdaq Composite index, which is rich with electronics and biotech inventories, added 0.95 percent to 12,818 points (-1.47 percent on Monday).
On the pandemic front, investors, considering the launch of vaccine drives in December, remain worried about the resurgence of coronavirus in Europe and the United States. Faced with the advent of a modern, more infectious variant in the United Kingdom, British Prime Minister Boris Johnson declared a new lockdown in England until at least mid-February on Monday. On Tuesday, Germany expanded its restrictive measures until the end of January and reinforced them.
On Monday, Donald Trump and Joe Biden both travelled to Georgia to support their candidates in Senate election, aiming to close with a very good turnout on Tuesday.
The number of reported cases of the latest coronavirus globally since the beginning of the outbreak has now surpassed 86 million, according to Johns Hopkins University, including 20.9 million in the United States, 10.3 million in India and about 7.7 million in Brazil. 1.86 million people worldwide have been killed by the outbreak, with more than 355,000 in the United States.
Moderna, Inc. (MRNA) announced that it has got a go ahead from authorities in Israel to use the Covid-19 vaccine, marking a new milestone. But the news still did not work for the biotechnology firm as its stock dropped -2.28 percent to $109.18 on Tuesday.