Investors look for more details on Biden's COVID-19 plan

How President Biden's first full day in office will impact the stock market, plus, 900,000 people filed for unemployment last week.
3:16 | 01/21/21

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Transcript for Investors look for more details on Biden's COVID-19 plan
I the opening bell is about to ring on Wall Street stocks are expected to opened higher on the first day of Joseph Biden's presidency as investors look for more details on his company nineteen relief plan. ABC news business correspondent into Bolton is here with more Deirdre what do you make of the market moves on inauguration day and what are you watching today. Well for inauguration day and we saw all of those records so a very strong response. Today we have a little bit more of a muted set up but I think longer terms and when I mean speaking with investors about what they think they are focused on shoe key points. Said the first one from an economic standpoint main I have to say the most important tons of investors no matter what their political stripe. They feel like the Biden administration is going to be a lot more aggressive about dealing with coal bit about dealing with the vaccine roll out. We've heard this 100 million doses in the first 100 days. And all citizens investors included are focused on that because it's really be resurgence. A club in nineteen that is holding back so many sectors of our economy. So most investors think that the Biden administration is going to attack that in a much more aggressive way and that's going to be a positive book for the stock market. And for the economy the other is more tone wise and again I've been speaking with investors of all political stripes no matter who they voted for who they will vote for. They really feeling this message unity. Is very good for the stock market because it limits the downside you're limiting risk you're taking out a lot of unknowns are taking out a lot of uncertainties. Just by the fact that there seems to be hope for a little bit more transparency policy wise. And that lasts investors and make appropriate decisions make appropriate bats if you want to but in those terms. So a lot of optimism. At least for the next few months and we also that's new job numbers this morning let's sit up to you there. Cindy knew there is more dire so it 900000. Americans applying for war first time unemployment benefits and what's disturbing about this number is that none of the holiday indeed is included there's so it's kind of the first week of clean data. That we've gotten and it shows that quite frankly we're still struggling from a labor market perspectives you have more than we're actually close to sixteen million Americans receiving some form of unemployment benefit we are now 44 weeks. Into this downturn based on coal rich now there are some who see a silver lining in that and they say once the vaccine rollout is Don. Once it is at least a little bit more widespread than you we will have. Sectors be able to hire more workers and I'm thinking about hospitality you restoration Tor is. To really a lot is just hinging. On this vaccine roll out one bright spot though than we can point you we also got housing data this morning. And you really shows this demand for single family homes and we've talked about this is a larger trend of more families wanting to leave bigger CDs. In any case that is really supporting the housing market more people want to build individual homes we're seeing the best levels since 2006 after looking for bright spots. Housing is certainly one of them giants we'll take the bright spots doesn't get them Deirdre Bolton thank you.

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