Wall Street closes at record highs as Netflix jumps, Biden inaugurated

Dow up 0.83%, S&P 500 up 1.39%, Nasdaq up 1.97%; FAANGs jump after Netflix results beat estimates

US stocks closed at record highs on Wednesday as Joe Biden was sworn in as the 46th US president, while solid results from Netflix sparked a rally in shares of "stay-at-home" beneficiaries.

Shares of the world's largest streaming service Netflix surged 16.85% after the company said it would no longer need to borrow billions of dollars to finance its TV shows and movies.
 

The rest of the FAANG group, due to report results in the coming weeks, jumped with Google parent Alphabet Inc rising 5.36%. The NYSE FANG+TM index gained 4.77%.
 

"It's a tech outperformance day which is pretty rare over