January 8, 2021

New Money Traders | January 8, 2021

Responsive image

Democrats take control of the US Senate

The Georgia senatorial run off elections took place on Tuesday. The GOP was hopeful that it could retain the Senate, however that would not be the case. Both of the Democratic candidates won and now the split between the parties in the chamber is 50-50. The Vice President serves as the President of the Senate and may cast a vote in the event of any tie. Vice President Harris gives the Democrats a 51-50 edge. Soon to be Senate Majority Leader Chuck Schumer has pledged to work on getting $2000 checks in the hands of Americans as a top priority. This has sent markets soaring. The DJA is again at all time highs. There is optimism that another stimulus is coming. 

Tesla Becomes the Fifth Largest US Company 

Electric car company Tesla has surpassed social media giant Facebook to become the fifth largest firm in the United States by market cap. Tesla stock has soared over the last year. At the time of this publication the stock is up nearly 7% on the day and is trading at $872.99/share. The incoming Biden administration wants to make the US electric car industry into the largest and best in the world by adding one million jobs. Many Wall St. analysts remain very bullish on Tesla, it is certainly a stock to keep your eye on in 2021. 

Modal Test