While the stock market has bounced back from its pandemic lows to achieve new highs, the nation’s economic recovery is widening long-festering racial and income inequalities and leaving millions of Americans behind. “The stock market is actually substantially higher than it was at its higher point prior to the pandemic,” Trump told reporters, adding, “We built it twice.” Speaking at a press conference prior to his departure from Washington, DC, Trump touted the strength of the US stock market during his time in office and its comeback from last year’s pandemic lows. Outgoing President Donald Trump left the White House on Wednesday morning for the last time during his term and became the first president in over a century and a half to not attend his successor’s inauguration. The S&P 500 – a proxy for the health of US retirement and college savings accounts – closed up more than 52 points or 1.39 percent at 3,851.85.Īnd the tech-heavy Nasdaq Composite Index finished the session more than 260 points or 1.97 percent higher, ending at a record 13,457.248. The Dow Jones Industrial Average gained more than 257 points or 0.83 percent to finish at 31,188.38.

Major US stock indexes closed at new all-time highs on Wednesday as Joe Biden became the 46th president of the United States, fuelling investor wagers that more generous coronavirus relief aid will be unleashed under his new administration.

Dow jones closing numbers today