Expectations of the Support Package Raised US Indices

Expectations of the support package raised the US indices. Indices in the country were opened with a positive move with the expectations that Joe Biden would make a statement regarding the economic package on January 14. At the opening, the Dow Jones index traded at 31,023.57 points with 0.05 percent gain. The S&P 500 index started trading at 3,803 points with an increase of 0.09 percent and the Nasdaq index at 13,067.75 points with a gain of 0.24 percent. While political developments in the US remained at the center of the agenda, expectations for the economic support package expected to be implemented after the elected President Joe Biden took office on January 20 increased. Biden, who promised an economic support package of "trillion dollars" last week, is expected to announce the details of this package on January 14th. Analysts who made evaluations on the subject stated that the fourth quarter balance sheets of the banks such as JPMorgan Chase, Citigroup and Wells Fargo that are expected to be announced this week will also be monitored closely.