Shares of energy companies rose as traders bet on an aggressive round of stimulus spending from the incoming Biden administration.
Mr. Biden made scant mention of his economic plans in his inaugural speech, but Janet Yellen, Mr. Biden's nominee for Treasury Secretary, had exhorted congress to "act big" a day earlier.
Oil futures continued their recent rally, which was sparked by the vaccine rollout and Saudi Arabia's decision to further curtail production.
Among the executive orders Mr. Biden plans on his first day in office is the revocation of a permit for the Keystone XL oil pipeline funneling oil from Canada to the U.S.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-20-21 1700ET
