US stocks hit new highs as investors bet on Joe Biden and global recovery

Streaming service Netflix was also a big winner, adding an extraordinary $30bn to its value in a few minutes of trade.   

The Dow has gained about 57% in the four years since Donald Trump assumed office on January 20, 2017, which compares with a 72% jump in the first term of the Obama administration. Picture: AP Photo/Jenny Kane, File

The S&P 500 and the Nasdaq hit all-time highs as Joe Biden took charge as US president, as investors bet that his near-$2bn (€1.65trn) stimulus and the vaccine roll-out would mean better times ahead for the US and global economies. 

President Biden will waste little time turning the page on the Trump era, advisers said, signing a raft of 15 executive actions on issues ranging from the Covid-19 pandemic to the economy to climate change.