Stocks Hit Record as Biden Calls for More Stimulus: Markets Wrap
- President-elect demands trillions of dollars in immediate aid
- Jobs recovery falters as virus surge snaps hiring streak
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Stocks climbed to all-time highs after President-elect Joe Biden said he’ll lay out the details of trillions of dollars in further aid to revive the world’s largest economy.
The S&P 500 notched its fourth straight day of gains, led by retailers and real-estate companies. The Nasdaq 100 outperformed, with Tesla Inc. surging for an 11th consecutive session. Meanwhile, the KBW Bank Index halted a rally that drove the gauge up more than 10% in three days. Miners joined a selloff in gold and silver. The dollar rose.