Geopolitics
US President Donald Trump posted a video acknowledging that a new administration will be sworn into office on January 20 and that his primary focus has shifted to ensuring a “smooth, orderly and seamless” transition of power.
This comes after some US lawmakers called for his impeachment or immediate removal from office by invoking the 25th Amendment following Wednesday’s unrest.
Meanwhile, Facebook CEO Mark Zuckerberg has announced the company will block President Donald Trump’s account “indefinitely and for at least the next two weeks until the peaceful transition of power is complete” due to his role in inciting this week’s riots in Washington, DC.
Wallstreet
The US stock market closed higher on Thursday despite the political turmoil in Washington, DC.
At market close, the Dow Jones closed 211 points higher, the S&P 500 ended 1.48% as Tesla rose Tesla 7.94%. The Nasdaq 100 on the other hand closed 2.51%.
Tesla Rally Makes Elon Musk World’s Riches Man
According to Bloomberg Billionaires Index, Elon Musk became the richest person in the world on Thursday, surpassing Amazon founder Jeff Bezos. Elon Musk’s net worth rose to more than $195 billion as shares of Tesla continue to rally.
Weekly Jobless Claims
The number of initial jobless claims in the US fell by 3,000 to 787,000 in the week ending January 2, the country’s Department of Labor reported on Thursday.
The four-week moving average decreased 18,750 from the prior week to land at 818,750. The prior week’s figure was revised up by 750 to 837,500.
RELATED; Global Markets; Dow Closes at record high Amid DC civil unrest
