US markets react well to Netflix and Biden stimulus package

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Prosperity Investment Management provides you with a weekly update from markets across the globe.

US markets continued to rise assisted by the better than expected figures released by Netflix. Positive gains for Facebook and Alphabet (Google) proved the tech-charge in financial markets has by no means subsided. Clearly, markets also responded well to hopes of the $1.9trn stimulus package introduced by Joe Biden.

European trading was slightly more subdued with the FTSE particularly flat. Fears over lockdown rules and their continued presence have halted recent growth in the UK index.

Asia was once again boosted by China. Though 22 million people have been placed under lockdown, the nation is benefitting from lower infection rates than other countries. However, news that confirmed 2.3% growth in China’s economy in 2020 is sure to please many. The powerhouse has emerged from the lockdown stronger than prior to being affected by COVID-19.