At 11:36 a.m. ET the Dow Jones Industrial Average fell 80.08 points, or 0.26%, to 30,961.05, the S&P 500 gained 6.19 points, or 0.16%, to 3,809.89 and the Nasdaq Composite gained 78.76 points, or 0.60%, to 13,146.27. The tech-heavy Nasdaq climbed 326.69 points, or 2.6%, to 13,067.48.
"We need more direct relief flowing to families, small businesses, including finishing the job of getting people the $2,000 in relief direct payment", Biden said at an event after naming new Cabinet nominees.
Stocks started off the New Year with a slump on Monday, but the market has since churned higher despite the turmoil in Washington, where a riot at the Capitol on Wednesday delayed the procedural congressional confirmation of Presidential-elect Joe Biden's victory.
Positive vaccine data and expectations of a bigger fiscal package and infrastructure spending under a Democratic-led U.S. Congress have pushed the S&P 500 above 3,800 points for the first time, and set all three major indexes on track for weekly gains. Shortly after Congress certified his loss, he issued a statement saying there will be an " orderly transition on January 20th".More news: US suspends French tariffs over digital services tax
Twitter has announced that Trump's account will be locked for the next 12 hours due to his tweets about the election earlier today.
House Speaker Nancy Pelosi announced that Congressional leaders have made a decision to resume the joint session to certify President-elect Joe Biden's win once the Capitol is "cleared for use".
"The market is pleased with the result", he said.
"The political risk is behind us and the market is rallying on that".
A report on Thursday showed that the economy remains fragile because of the worsening pandemic, but it wasn't quite as bad as economists expected.More news: Twitter permanently suspends Trump citing risk of more violence
U.S. House Speaker Nancy Pelosi urged Trump's immediate removal from office.
Another more encouraging report said that growth in US services industries accelerated last month and was stronger than economists expected.
"With more stimulus coming, even if we do have a miss on claims, it's going to be a little bit less severe, because we know there's going to be a bigger back up for those who are recently unemployed", said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors in Newport Beach, California. The 10-year yield rose to 1.07% from 1.02% late Wednesday, after topping the 1% level for the first time since March.
Higher interest rates allow banks to make bigger profits from making loans, as would a stronger economy, and financial stocks were again among the market's leaders.
According to CNBC, shares of JPMorgan Chase advanced 3.3% after the banking giant was upgraded to buy from neutral by an analyst at Bank of America.More news: Congress meets for final affirmation of President-elect Biden's win