Dow, S&P 500 and Nasdaq Close at Record Highs on Economic Recovery Bets

08 January 2021

    The Dow, S&P 500 and Nasdaq closed at record highs Thursday led by economic recovery hopes following Democrats’ Senate win and logical expectations of increased fiscal stimulus. 


    Given violent protest issues with Republican supporters, lawmakers including US Senate Democratic leader - Chuck Schumer, called on Vice President Mike Pence to remove Trump from office by invoking the 25th Amendment to the US Constitution. "If the Vice President and the Cabinet refuse to stand up, Congress should reconvene to impeach the president”, Schumer said.


    Tech companies also railed against Trump, who went as far as to encourage demonstrators to protest the confirmation of Joe Biden's victory via social media, resulting in Facebook blocking the president's account until his transition. Apple, Microsoft, Amazon, Facebook and Alphabet all traded higher.


    Financials, in turn, climbed nearly 2% as bank stocks surged on rising Treasury yields as investors saluted the Democrats' expansionary agenda.


    All in all, the Dow saw a 0.69% rise, S&P 500 - 1.48% rise, and Nasdaq - 2.56% rise, closing at above 13,000 for the first time ever.

    *The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).


Cookies on Fondex

The Fondex website uses cookies to optimise user experience.

These cookies fall under the following categories: essential, functional and marketing cookies. Marketing cookies may also include third-party cookies.

Manage Preferences

You can customize your selection of which cookies you want to accept.

  • Essential

    These cookies are necessary for the website to function correctly and cannot be switched off.

  • Functional

    Functional cookies allow the website to remember users' preferences and the choices you make on the website such as username, region, and language.

  • Marketing

    These cookies are used to track visitors across our websites and show you more relevant ads. Marketing cookies also include third-party cookies from partners. For more information relating to data protection & collection please view our Privacy Policy and Cookie Disclosure.


The Company would like to inform you that it will terminate its operations under the "Fondex" brand by 30th of December 2022. If you wish to open a trading account, kindly visit