Here’s Yahoo Finance’s Friday morning wrap.
The ASX is expected to rise at the open of trade, after the stock market had its best session in almost two months, closing 1.59 per cent higher to 6,712 points on Thursday.
In the US, Wall Street hit record levels as investors bet on more pandemic aid under a Democrat-controlled Congress.
Biden confirmed: Hours after angry pro-Trump protestors stormed the US Capitol, Congress formally certified President-elect Joe Biden’s election victory.
The House of Representatives and the Senate rejected two objections to the tally, and confirmed the final Electoral College vote was 306-232 (Biden to Trump).
Biden will officially be sworn in on 20 January 2021.
Trump’s vow: Despite saying he “totally disagrees” with the outcome of the election, outgoing US President Donald Trump has reluctantly promised an “orderly” transition of power.
The statement was issued via his social media director, as Trump’s Twitter account was locked amid chaos at the Capitol.
Trump was also indefinitely banned from Facebook and Instagram, with CEO Mark Zuckerberg saying, “the risks of allowing the president to continue to use our service during this period is too great”.
25th Amendment: US House Speaker has urged Vice President Mike Pence to invoke the 25th Amendment and boot Trump from office, warning that if he does not, Democrats will move forward with an impeachment trial against the President.
House Speaker Nancy Pelosi called Trump “a very dangerous person who should not continue in office.”
“In calling for this seditious act, the president has committed an unspeakable assault on our nation and our people,” she said.
Move over Bezos: There’s a new richest person in town. Tesla chief Elon Musk has bumped Amazon founder Jeff Bezos from the top of the rich list, after shares in Musk’s company surged on Thursday.
Musk’s net worth is now US$185 billion (AU$238 billion) - US$1 billion ahead of Bezos.
Bitcoin surges: Cryptocurrency has continued its 2020 surge into the new year, with a single bitcoin now worth US$40,000 (AU$51,505) as of Thursday.
Optimism can be seriously helpful in life - but it can also significantly help your career. In fact, it’s one of the most important and respected qualities in the workforce, Women’s Agenda founding editor, Angela Priestley, writes.
Have a great day.