Market Overview

On the final day of President Joe Biden's administration, Wall Street witnessed a significant uplift as major stock markets opened higher. This surge comes ahead of the official inauguration of President-elect Donald Trump on Monday. Investors are closely analyzing the latest economic reports, which have exceeded expectations, contributing to the positive market sentiment.

Economic Indicators

The market's optimism was fueled by the latest data on housing starts and industrial production, both of which surpassed analysts' forecasts. The housing starts report showed a remarkable increase, while industrial production also saw a notable rise in December, indicating a robust economic recovery.

Stock Performances

At the opening bell, the Dow Jones Industrial Average climbed by 0.75%, or 342 points, with Salesforce leading the charge with a 2.51% increase. The Nasdaq 100 wasn't far behind, jumping 1.78% as Intel shares soared by an impressive 7.73%. Meanwhile, the S&P 500 grew by 1.00%, with Applied Materials gaining 2.63%.

Currency Movements

In currency markets, the euro experienced a slight decline against the dollar, trading at $1.02746 at 9:29 am ET.