Big jump in US stock market with Joe Biden taking over as new president. The stock market closed at a record high on Wednesday. The stock market gained on the back of a surge in tech companies.
Leading video streaming company Netflix has made the biggest leap. The stock value was boosted by the perception that Netflix could benefit from Joe Biden’s actions as part of COVID-19 restrictions. The video streaming company Netflix’s expectations of an increase in the number of users have helped the company’s share price rise.
Tech companies are expected to benefit if people stay home as part of COVID-19 restrictions.
Shares of Netflix rose 16.85%. Alphabet, Google’s parent company, grew 5.36%. Tech companies in general have benefited from Joe Biden’s arrival.