Stocks Ended at Record Highs amid Biden’s Inauguration Day

U.S. stocks ended higher on Wednesday, with all three major benchmark closing at record highs, as stimulus hopes rise after Biden is sworn in as president. The Dow Jones Industrial Average rose 257.86 points, or 0.83%, to 31,188.38. The S&P 500 climbed 52.94 points, or 1.39%, to 3,851.85. The Nasdaq Composite gained 260.07 points, or 1.97%, to 13,457.25.

Oil futures ended higher Wednesday for a second straight session, as traders penciled in expectations for aggressive pandemic aid spending by the administration of President Joe Biden. West Texas Intermediate crude for February delivery rose 26 cents, or 0.5%, to settle at $53.24 a barrel. March Brent crude rose 18 cents, or 0.3%, at $56.08 a barrel.