The riots began just as Congress began to meet to count the Electoral COllege votes and officially declare Joe Biden the winner of the presidential election
4:20 pm: Stocks lose momentum amid Capitol riots
The Nasdaq, which began the day in the red but surged mid session, returned to negative territory as the Capitol building in Washington DC was stormed by pro-Trump rioters. The tech-laden index ended 78 points lower, 0.6%, at 12,741.
The Dow faded slightly off its intraday high but still ended up more than 437 points, 1.4%, at 30,829. The S&P 500 improved 21 points, 0.6%, to 3,748.
The CBOE Volatility Index moved higher going into the close, CNBC reported.
Democrats Raphael Warnock and Jon Ossoff have each been projected to win election to the US Senate in Georgia. The riots began just as Congress began to meet to count the Electoral COllege votes and officially declare Joe Biden the winner of the presidential election.
12:30 pm: Wall Street roars to life
The Dow gained 472 points, 1.5%, to reach 30,863 at midday after being up more than 500 earlier in the session. The Nasdaq rose 63 points, 0.5%, to 12,882, and the S&P 500 advanced 43 points, 1.1%, to 3,770.
() and Corporation gained 4.9% and 6.9%, respectively, after the 10-year Treasury note yield rose above 1% for the first time since March.
Democrat Raphael Warnock is projected to win his US Senate race in Georgia, and fellow Democrat Jon Ossoff is currently leading Republican Sen. David Perdue. Should they both win, many expect more spending from a Democrat-controlled Senate.
expects a package of $600 billion if those results hold, CNBC reported.
10:30 am: Proactive North America headlines:
African Gold Group Inc () (OTCMKTS:AGGFF) (FRA:3A61) extends drilling at flagship Kobada gold project after more encouraging assays
() (OTCPINK:MWSNF) (FRA:MXR) reports more encouraging drill results from Sunday Creek in the famous Victoria goldfields
() (OTCQX:OQMGF) says resuming drilling with 12 rigs on 150,000-metre program on its properties in Val-d’Or, Québec
(NYSEAMERICAN:AIM) (FRA:HXB2) announces first COVID-19-induced chronic fatigue ‘Long Hauler’ patient dosed with Ampligen
Pacton Gold Inc () (OTCPINK:PACXF) (FRA:2NKM) outlines 2021 drilling campaign at its two Ontario gold properties
() (NYSEAMERICAN:SVM) (FRA:S9Y) announces high-grade gold and silver results in a new vein at the HPG mine in China
() () (FRA:AC4) unveils significant expansion moves with plans to acquire both Green Therapeutics and ALPS
Corp () expands its women’s healthcare services and plans launch of telemedicine service
American Manganese Inc () hails publication of paper on its lithium-ion battery cathode recycling process in Journal of the Electrochemical Society
KULR Technology Group Inc () announces “strong” preliminary 4Q revenue of up to $250,000
9:52 am: Wall Street opens mixed
The main Wall Street indices opened on a mixed footing on Wednesday morning as political developments and bleak economic data were combined with some positive vaccine news to contrast sentiment among traders.
Shortly after the opening bell, the Dow Jones Industrial Average rose 0.33% to 30,494, while the S&P 500 dropped 0.09% to 3,724 and the Nasdaq fell 0.85% to 12,708.
The gloomier attitude by some may have been caused by the latest US ADP jobs figures, which showed the American private sector lost 123,000 jobs in December, much worse than predictions of 75,000 jobs added.
Large businesses were the biggest cause of the drop, cutting 147,000 jobs while medium businesses added 37,000 and small businesses cut 13,000. The effects of the pandemic also seemed to be bleeding through with the service industry cutting 105,000 jobs during the month.
Also at the front of traders minds will be the upcoming counting of the US electoral college votes in Congress later which could produce political fireworks as a handful of Republican congressmen plan to object to…