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Business News

Jan 13, 2021

Key indices end marginally higher on Wall Street in a volatile session

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On Wall Street, the key indices ended marginally higher yesterday in a volatile session as investors waited for earnings season and monitored developments in Washington after supporters of outgoing US President Donald Trump stormed the Capitol.
So the Dow Jones Industrial Average rose 60 points, or 0.2 per cent, to close at 31,069. The S&P 500 gained 2 points, to end at 3,801. And the Nasdaq Composite added 36 points, to 13,072. The small-cap Russell 2000 index gained about 1.4%.
Shares of US automaker General Motors shot up 6 per cent to hit the highest in a decade after the company outlined plans for its first electric commercial vans to be delivered to FedEx Corp by year-end. Shares of Tesla jumped over 5 per cent on the confirmed news that the electric-car maker moved a step closer to its launch in India later this year by registering a company in the country.
Meanwhile, earnings for S&P 500 companies are now expected to show a decline of 9.5 per cent, year-over-year, in the final quarter of 2020, according to IBES data from Refinitiv.

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