Last week was a shortened trading week due to the Martin Luther King, Jr. Holiday. Optimism returned to the markets on Tuesday as positive earnings reports suggested that the economy continues to recover. Wednesday’s Presidential Inauguration buoyed all major markets, which closed to new record highs.
Returns were mixed for the remainder of the week but overall markets posted positive gains. The Dow Jones Industrial Average ended the week up 183 points (0.59%), the S&P 500 gained 73 points (1.94%) and the NASDAQ posted an increase of 545 points (4.19%) and closed on a new record high.
This week looks to start strong as a flood of earnings reports are scheduled to be released over the next several days. Optimism also surrounds a dip in the number of COVID-19 hospitalizations while vaccinations begin to ramp up.