Investors were encouraged on Wednesday by the prospect that Democrats would have a unified government within weeks and usher in a wave of new spending to shore up the economy. Even as a mob stormed the U.S. Capitol, stocks ended the day higher. The violence broke out during proceedings to certify Joseph R. Biden Jr.’s Electoral College win, quickly escalating into chaotic scenes of rioters inside the building. The Russell 2000 index of small stocks — which are closely tied to the domestic economy — surged 4 percent, its biggest daily gain since last May. Government bond yields climbed to levels not seen since March and oil prices rose.

Source: International New York Times January 06, 2021 19:11 UTC