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Midday Market Update

Investors Seek Clues in the Inauguration Speech

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U.S. Markets
U.S. stocks were higher on the morning ahead of the inauguration of the 45th president of the United States. The Dow and S&P were up 0.47% and 0.45%, respectively. Nasdaq edged up 0.36%. Gold was trading for $1,203.50 per ounce up 0.17%. Investors are on the sidelines and are expected to read into the content and the style of the inauguration speech. The S&P has gained about 6% since election day, the largest election-to-inauguration gain since Bill Clinton’s re-election in 1997. While there has certainly been a hiatus in the post-election market rally, investors believe the honeymoon period might not yet be over.

Stocks on the Move
Shares of  Netflix (NFLX) hit a 52-week high, trading at $140.66. The company made a bold move to move to produce original programming in 2016, and it seems to have paid off. It invested heavily in making shows like The Crown, Stranger Things, and the remake of Gilmore Girls. In total, the company produced 600 hours of original programming in 2016; it intends to increase that to about 1,000 hours this year. Shares have been soaring ever since the company released information that it ended the year with 93.8 million subscribers in total. The shares have gained over 12% in the past month alone.

Manjul Bhusal Sharma does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.