Shares rise as executive orders from Biden arrive



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U.S. stock markets edged up Thursday morning after President Biden signed a series of executive orders in the early hours of his presidency.

The Dow Jones Industrial Average gained 34 points, or 0.11%, in the opening minutes of trading, while the S&P 500 and Nasdaq Composite rose 0.1% and 0.4% respectively. The three big averages finished in record territory on Wednesday.

Teleprinter security Latest Change Change%
I: DHI n / A n / A n / A n / A
SP500 S&P 500 3856.04 +4.19 + 0.11%
I: COMP NASDAQ COMPOSITE INDEX 13518.142069 +60.89 + 0.45%

Biden’s orders included extending a freeze on student loan payments and moratoriums on eviction and foreclosure for those affected by COVID-19. Other measures, including the cancellation of the Keystone XL pipeline permit, reintegration into the Paris climate agreement and halting construction of the southern border wall, among others.

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UAL UNITED AIRLINES HLDG. 42.49 -2.69 -5.95%

On the stock side, United Airlines Holdings reported a fourth consecutive quarterly loss in the three months through December, as the COVID-19 pandemic continues to plague demand for air travel. The Chicago-based airline lost $ 7.1 billion in 2020, but said that while the next few quarters will be difficult, it expects a return in travel and a reduction in costs leading to its 2019 profit margins surpassing. by 2023.

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BKS n / A n / A n / A n / A

Baker Hughes Co. ran out of revenue but beat profits and said he expects the energy market to bottom out by the middle of this year.

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AAPL APPLE INC. 135.78 +3.75 + 2.84%

Elsewhere, the price target for Apple Inc. shares was raised to $ 152, from $ 144 at Morgan Stanley, which forecasts record quarterly earnings and earnings in its next report.

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TSLA TESLA INC. 848.46 -2.00 -0.23%

Tesla Inc. vehicle registrations in the state of California were up 63% year-over-year in the fourth quarter, according to data from research firm Cross-Sell. The increase in registrations was supported by demand for the Model Y crossover vehicle.

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GM GENERAL MOTORS COMPANY 56.47 +0.62 + 1.11%

In other auto news, General Motors is heading for its sixth record this month as investor optimism rises after a wave of strategy moves this month.

In commodities, West Texas Intermediate crude fell 33 cents to $ 52.98 a barrel and gold slipped $ 2.10 to $ 1,864.40 an ounce.

European markets were mixed after the European Central Bank kept its policy on hold, with the French CAC 40 falling 0.34% and the German DAX 30 advancing 0.11%. The UK FTSE 100 was 0.06% higher.

In Asia, Hong Kong’s Hang Seng index slipped 0.12% while Japan’s Nikkei 225 rose 0.82% and China’s Shanghai index gained 1.07%.

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