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Nasdaq Hits Another Record High, as Joe Biden Takes Over as US President

Wall Street closed higher last week, as Joe Biden was sworn in as the 46th President of the United States. Markets recorded sharp gains on the inauguration day of the new President but soon lost some steam, as investors assessed Biden’s proposed $1.9 trillion pandemic relief package, which includes direct payments of $1,400 for Americans. During his speech, Biden

By |2021-01-26T11:25:57+05:30January 25th, 2021|Finance|0 Comments

US Stocks Record Gains in First Week of 2021, Congress Confirms Biden As Next President

US stocks started off 2021 with a massive downturn on Monday, after ending the previous year on a strong note. Markets turned higher after the slump on prospects of higher government aid with the Democrats winning the Senate race in Georgia. The Congress also confirmed Joe Biden’s win as the US President last week a

By |2021-01-11T10:49:20+05:30January 11th, 2021|Finance|0 Comments

What’s in the IPO Pipeline for 2021?

Last year was a phenomenal year for IPOs, with various companies raising a record $167.2 billion. The previous record was set at the apex of the “dotcom bubble” ($107.9 million). Nearly half the amount in 2020 was raised by an uptrend of Special Purpose Acquisition Companies (SPACs), allowing the market to participate in private equity

By |2021-01-06T15:07:50+05:30January 6th, 2021|Finance|0 Comments

Wall Street Ends 2020 On Strong Note Following Upbeat Jobless Claims Data

US stocks closed higher on the last trading day of the week, also wrapping a year in which the markets went through a rollercoaster ride. Wall Street plummeted sharply in February and March with the coronavirus outbreak spreading outside China, which forced several countries to impose lockdown restrictions, bringing economic activity to a grinding halt.

By |2021-01-04T10:48:05+05:30January 4th, 2021|Finance|0 Comments

US Stocks Close Mixed During Holiday-Shortened Week, Markets Cautious Over Stimulus Package

US stocks started the holiday-shortened week on a mixed note, with traders monitoring news of a new variant of coronavirus detected in the UK. Meanwhile, investors also welcomed news of lawmakers agreeing to a $900 billion covid-19 aid package. Markets became cautious, however, after President Donald Trump raised concerns about the package, calling it “a disgrace” and

By |2020-12-28T10:44:57+05:30December 28th, 2020|Finance|0 Comments

Wall Street Gained Last Week with FDA Approval of Another Covid-19 Vaccine

Wall Street climbed to record highs last week despite starting the week on a negative note. Hopes of US lawmakers passing the covid-19 relief bill and another pharma giant receiving FDA clearance for its vaccine candidate spurred optimism among investors. Capitol Hill leaders said they were close to reaching a deal to provide an additional

By |2020-12-21T21:46:45+05:30December 21st, 2020|Finance|0 Comments

US Stocks Drop Last Week Amid Stimulus Uncertainty; FDA Gives Nod To Pfizer’s Vaccine

US markets started the week on a lower note with investors still waiting for US lawmakers to announce the new stimulus package. The week ended without any agreement reached around the covid-19 relief package, while the government is eager to pass a bill before yearend. Meanwhile, Britain began its covid-19 mass vaccination program last week,

By |2020-12-14T10:45:32+05:30December 14th, 2020|Finance|0 Comments

Wall Street Records Historic Gains for November, Driven by Covid-19 Vaccine Optimism

Last week started on a downbeat note for Wall Street, after stocks finished November with historic gains, with the Dow recording its strongest monthly surge since 1987. The week progressed with positive news related to the coronavirus vaccine being approved by the UK, following the completion of late-stage trials. Pfizer and its German partner BioNTech

By |2020-12-08T11:08:21+05:30December 8th, 2020|Finance|0 Comments

Wall Street Ends Mixed in Tug-of-War Between Covid-19 Vaccine and Rising Infections

Last week started with another encouraging announcement for a covid-19 vaccine after Moderna said that its candidate was 94.5% effective in Phase 3 trials. The update came just a week after Pfizer’s vaccine candidate, developed in partnership with BioNTech, delivered 90% efficacy. Pfizer managed to stay ahead of Moderna by reporting strong results from the

By |2020-11-23T10:49:48+05:30November 23rd, 2020|Finance|0 Comments

S&P 500 Hits Fresh Highs on Encouraging Covid-19 Vaccine Data

Wall Street started the week on a strong note as investors cheered news of encouraging data from late-stage trials of the covid-19 vaccine candidate being developed by Pfizer and BioNTech. The companies disclosed that their vaccine candidate is more than 90% effective in treating patients suffering from coronavirus. The companies also signed deals with various countries for

By |2020-11-16T15:57:44+05:30November 16th, 2020|Finance|0 Comments