• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 

3

Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 

3

Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
FinanceMarkets

The S&P is rallying—even after a violent mob stormed Congress

By
Katherine Dunn
Katherine Dunn
Down Arrow Button Icon
By
Katherine Dunn
Katherine Dunn
Down Arrow Button Icon
January 7, 2021, 8:58 AM ET

The S&P 500 is still rallying.

Despite an armed insurrection in Congress intended to disrupt the certification of the U.S. presidential election results, global markets are in the green on Thursday morning, as confidence that further economic stimulus is on its way appeared to overrule what many have called the most severe threat to American democracy since the Civil War.

The S&P 500 was up 0.57% on Thursday ahead of the New York trading day, while the blue-chip Dow Jones industrial average was up 1.44%. Both were building on a close at all-time highs on Wednesday as the rampage on the Capitol by a group of Trump supporters moderated—but did not stop—markets from gaining ever more ground, adding to a pandemic-era rally that has frequently appeared to defy gravity.

That momentum appeared to be off the back of Democrats’ election of two senators in the runoff in Georgia on Wednesday, analysts said, linking the confirmation of a Democrat-controlled Senate squarely to the prospect of more stimulus funds being injected into the economy.

“The Senate results mean that the so-called blue wave scenario has finally come about, albeit via a tortuous journey, resulting in a slim Democratic majority in both chambers of Congress,” said Jim Reid, a research strategist at Deutsche Bank. “The main implication being the prospect of a substantially larger U.S. stimulus package once President-elect Biden comes to office, and giving further support to the reflation trade.”

Confident that the storming of Congress would not ultimately derail the transfer of power, investors gained optimism from the shows of “bipartisanship” on the Hill, with Republican Senate leader Mitch McConnell giving a speech to urge acceptance of the result earlier in the day, said UBS chief economist Paul Donovan in a note Thursday morning.

“Any meaningful legislation (including fiscal stimulus) will require collaboration with Senate Republicans, so bipartisan signals matter to investors,” he wrote.

Biden’s election to President was officially certified early Thursday morning.

There were other signs that markets were shrugging off the storming of Congress: Gold, a typical safe haven commodity, was largely flat Thursday morning, while U.S. Treasury yields—often used as a signal of declining risk—were rising slightly, and the dollar was also strengthening against other major currencies.

The unruffled response from markets came in marked contrast to the response from American business leaders, many of whom issued striking condemnations of the violence and President Trump’s support and encouragement of the mob.

CEOs at Microsoft, Apple, and Pfizer, among others, decried the attack on American democracy, while the National Association of Manufacturers referred to it as “mob rule” and placed the blame squarely on the President and the elected officials who had supported him.

About the Author
By Katherine Dunn
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

A 45,000-person labor strike at Samsung’s memory chip plants could throw a wrench into the AI boom
EconomySamsung
A 45,000-person labor strike at Samsung’s memory chip plants could throw a wrench into the AI boom
By Catherina GioinoMay 17, 2026
18 minutes ago
Kevin Warsh, chairman of the US Federal Reserve nominee for US President Donald Trump, during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, DC, US, on Tuesday, April 21, 2026.
BankingKevin Warsh
Wall Street is keeping a close eye on Kevin Warsh at the Fed. These are the red (and green) flags they’re watching for
By Eleanor PringleMay 17, 2026
1 hour ago
New NRG Energy CEO leans into growth with ‘bring your own power’ for the AI boom and affordability with ‘virtual power plants’
Energypower
New NRG Energy CEO leans into growth with ‘bring your own power’ for the AI boom and affordability with ‘virtual power plants’
By Jordan BlumMay 17, 2026
2 hours ago
U.S. allows Russia oil sales waiver to expire despite tight market
EnergyOil
U.S. allows Russia oil sales waiver to expire despite tight market
By Jennifer A. Dlouhy and BloombergMay 16, 2026
10 hours ago
Oil markets could be a month away from the moment of truth. Brace for a ‘non-linear’ price spike and panic buying, analysts warn
EnergyOil
Oil markets could be a month away from the moment of truth. Brace for a ‘non-linear’ price spike and panic buying, analysts warn
By Jason MaMay 16, 2026
14 hours ago
lirr
EconomyRailroads
Spring Hamptons traffic nightmare as Long Island Rail Road workers go on strike
By Philip Marcelo, Nick Lichtenberg and The Associated PressMay 16, 2026
19 hours ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
21 hours ago
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
Politics
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
By Jason MaMay 16, 2026
11 hours ago
Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
Future of Work
Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
By Jake AngeloMay 16, 2026
1 day ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
5 days ago
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
Future of Work
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
By Jacqueline MunisMay 16, 2026
21 hours ago
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.