US STOCKS-Wall Street closes at record highs as Netflix jumps and Biden inaugurated

US stocks closed at record highs with the inauguration of Joe Biden as President of the United States, while strong results from “Netflix” sparked the rise of companies benefiting from the commitment of homes.

Netflix, the world’s largest online entertainment content-streaming service, shares rose after the company said it no longer needed to borrow billions of dollars to finance the production of its TV series and movies.

“It’s a day of outperformance for tech companies, which is rare in the last two to three months,” said Roy Mayfield, investment strategy analyst at Bird in Milwaukee, Wisconsin.

Based on unofficial data, the Dow Jones Industrial Average rose 257.86 points, equivalent to 0.83 percent, to reach 31,188.38 points.

The Standard & Poor’s 500 Index increased by 52.94 points, or 1.39 percent, to record 3,851.85 points, and the Nasdaq Composite Index advanced 260.07 points, or 1.97 percent, to 13,457.25 points.