Across the Global Markets, Stock market indexes in the US on Wednesday ended mixed with the Dow Jones Industrial Average, which measures the stock performance of 30 large companies, closing at a new all-time high.
Supporters of President Donald Trump stormed the Capitol building on Wednesday and brought to a halt a joint session of Congress during which the lawmakers were supposed to count each state’s electoral votes and confirm the results of the presidential election.
According to Bloomberg, the country’s Vice President Mike Pence refused Trump’s request to overturn the Electoral College’s vote, saying that he “doesn’t have the authority” to influence the election to such a substantial extent.
At market close, the Dow rose 1.44% or 437 points. The S&P 500 was up 0.57% while the Nasdaq 100 fell 1.40%.
Major Global News
The New York Stock Exchange (NYSE) announced on Wednesday that it will comply with an executive order signed by President Donald Trump and delist three Chinese telecommunications firms.
Earlier this week, the NYSE reversed its original decision to delist the companies. NYSE said the decision to delist the firms was reached after receiving guidance from the Treasury Department’s Office of Foreign Assets Control.
The three Chinese telcos; China Telecom Corporation Ltd, China Mobile and China Unicom Limited will be delisted after markets open in New York on January 11.
Amazon to invest over $2B in affordable housing
Amazon.com has announced the launching of a $2 billion housing equity fund targeting to provide more than 20,000 affordable homes available in the three communities where the company has or expects to have at least 5,000 employees each in the coming years.
“Amazon’s Housing Equity Fund will help preserve existing housing and help create inclusive housing developments through below-market loans and grants to housing partners, traditional and non-traditional public agencies, and minority-led organizations.” It said in a statement.
Bitcoin Surpasses $37,000
The price of Bitcoin rose past the $37,000 mark, after topping $36,000 earlier on Wednesday. The demand for BTC was mainly driven by growing bulk buying by institutional investors.
Elon Musk Networth
Elon Musk is close to becoming the richest person in the world and his wealth is expected to surpass that of Amazon CEO Jeff Bezos according to Bloomberg Billionaires Index ranking.
As at 08.55 a.m GMT+3 on Thursday, Musk net worth was valued at $181.1 billion $3 billion shy of Bezos, who was valued at $184 Billion. Bezos has held the top spot since October 2017 according to Bloomberg.
