Stocks flat on Biden’s first full day as president

Stock markets closed relatively flat on Thursday, President Biden’s first full day in office, having set new records on inauguration day.

The Dow Jones Industrial Average fell 12 point, a fraction of a percent, and the S&P 500 increased 1.2 points, also negligible in percentage terms, though it technically set a new record having closed above Wednesday’s high.

The markets set new records Wednesday as Biden took the oath of office and signed a flurry of executive orders covering immigration, housing and student loans, and the COVID-19 pandemic.

The Senate also swore in three new Democratic members, flipping the majority and handing Democrats control across Washington.

Biden is pushing for a $1.9 trillion COVID-19 relief bill and is expected to propose a larger infrastructure plan in the coming weeks.

Updated at 4:01 p.m.