Stocks Ended at Records after Congress Certified Biden Victory

U.S. stocks ended at new records on Thursday, after Congress confirmed President-elect Joe Biden’s election win, as Wall Street anticipated more stimulus under incoming administration. The Dow Jones Industrial Average advanced 211.73 points, or 0.69%, to 31,041.13. The S&P 500 rose 55.65 points, or 1.48%, to 3,803.79. The Nasdaq Composite gained 326.69 points, or 2.56%, to 13,067.48.

Oil futures rose Thursday to post a third straight session gain, buoyed by data showing a larger-than-expected weekly drop in U.S. crude inventories and a recent pledge by Saudi Arabia to further cuts its production levels. West Texas Intermediate crude for February delivery rose 20 cents, or 0.4%, to settle at $50.83 a barrel. March Brent crude added 8 cents, or nearly 0.2%, at $54.38 a barrel.