Facebook Bans Trump; Bitcoin Soars | Stock Market News

The three major U.S. stock market indices continued to rise, reaching new records Thursday despite the political unrest.

Wednesday’s violent confrontation at the U.S Capitol didn’t derail the updraft for the stock market. Instead, investors set their sights on Democrats flipping the Senate, which increases the likelihood of additional fiscal stimulus.

Meanwhile, initial jobless claims for regular state programs fell slightly for the week ending Jan. 2 to 787,000. While new claims are down from their peak last spring, they remain nearly four times the prepandemic average.

The Dow Jones Industrial Average rose 211 points, or nearly 0.7%, to finish at 31,041.

Facebook bans Trump. The technology giant has banned President Donald Trump from using its platform indefinitely. “We believe the risks of allowing the president to continue to use our service during this period are simply too great,” CEO Mark Zuckerberg wrote in a statement. Shares of Facebook (ticker: FB) were up about 2% on the day.

XNAS: FB | 4:00:00 PM

263.31

price (usd)

Data as of 4:00:00 PM on 1/7/2021

Twitter (TWTR) returned access to Trump’s account after a 12-hour lockout.

Bitcoin surpasses $40,000. Another day, another Bitcoin record. The cryptocurrency topped $40,000 Thursday before a slight pullback, sliding back below $39,000.

Elon Musk, world’s richest person. Tesla’s (TSLA) CEO became the richest person in the world, with his net worth topping $185 billion, boosted by the soaring value of Tesla stock. He surpasses previous titleholder Jeff Bezos, CEO of Amazon.com (AMZN). The one-day rise in Tesla shares was nearly 8%.

XNAS: TSLA | 4:00:00 PM

755.98

price (usd)

Data as of 4:00:00 PM on 1/7/2021