Reports of the attacks on the US Capitol briefly shook markets, but investors said the impact would be temporary at best. The aftermath of the runoff elections in the state of Georgia weighed on technology stocks while sending investors into sectors that underperformed last year, such as banks and small caps. Bets on economic growth helped spur outsize gains in the shares of infrastructure stocks, energy companies and other sectors that had been among 2020’s biggest losers. Democratic control of the Senate would Biden more scope to act on his agenda, which includes new stimulus and infrastructure spending, although the tight split in the Senate could make it tougher to push through high spending. It may also pave the way for higher corporate taxes and tighter regulations, policies not typically favored by Wall Street.

Source: bd News24 January 07, 2021 00:33 UTC