<p><img src="https://static5.businessinsider.com/image/5f77590b74fe5b0018a8ec2b-2400/2020-03-26t134230z_2_lynxmpeg2p0oc_rtroptp_4_usa-stocks.jpg" border="0" alt="FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson" data-mce-source="Reuters"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>US stocks hit record highs on Wednesday after snapping a six-day win streak on Tuesday.</strong></li><li><strong>President Biden signaled support for keeping income thresholds for $1,400 stimulus checks.</strong></li><li><strong data-stringify-type="bold"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest" target="_blank" rel="noopener noreferrer" data-stringify-link="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell" data-sk="tooltip_parent">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></strong><strong data-stringify-type="bold">.</strong></li></ul><hr><p>US stocks hit record highs on Wednesday, extending their uptrend after snapping a six-day win streak on Tuesday.</p><p>President Biden continued to signal support for a swift passage of a $1.9 trillion stimulus bill, which would <a href="https://www.businessinsider.com/stimulus-biden-plan-income-thresholds-1400-checks-democrats-2021-2">keep income levels unchanged for the expected $1,400 stimulus checks.</a></p><p>A continued decline in daily COVID-19 cases, coupled with an accelerated rollout of vaccines is brightening the prospect for a reopened economy, evidenced by the continued surge in oil prices.</p><p><strong>Here's where US indexes stood after the 9:30 a.m. ET open on Wednesday:</strong></p><ul><li><strong><a href="https://markets.businessinsider.com/index/s&p_500" target="_blank" rel="noopener">S&P 500</a>:</strong> 3,927.61, up 0.42%</li><li><strong><a href="https://markets.businessinsider.com/index/dow_jones" target="_blank" rel="noopener">Dow Jones industrial average</a>:</strong> 31,478.20, up 0.33% (102.37 points)</li><li><strong><a href="https://markets.businessinsider.com/index/nasdaq_composite" target="_blank" rel="noopener">Nasdaq composite</a>: </strong>14,083.64, up 0.54%</li></ul><p><strong><em>Read More: </em></strong><a href="https://www.businessinsider.com/stocks-to-buy-26-economic-recovery-low-rates-goldman-sachs-2021-2'utm_source=markets&utm_medium=ingest" target="_blank" rel="noopener"><em>GOLDMAN SACHS: Buy these 26 'best of both worlds' stocks set to soar with economic recovery even if interest rates stay low</em></a></p><p>Better than expected corporate <a href="https://markets.businessinsider.com/news/stocks/lyft-stock-price-q4-earnings-profit-recovery-vaccines-2021-2-1030066192">earnings from Lyft</a> and <a href="https://markets.businessinsider.com/news/stocks/twitter-stock-price-q4-results-revenue-tops-billion-user-base-2021-2-1030065827">Twitter sparked</a> a 13% and 10% surge in their stock prices, respectively. </p><p>The SPAC craze showed no sign of slowing down on Wednesday, with former NFL player <a href="https://markets.businessinsider.com/news/stocks/colin-kaepernick-spac-blank-check-company-social-purpose-mission-advancement-2021-2-1030065429">Colin Kaepernick launching his own SPAC,</a> seeking to raise $250 million to fund a $1 billion acquisition of a firm with a social purpose. </p><p>Electric truck developer Rivian, a rival to Tesla, is reportedly <a href="https://www.businessinsider.com/rivian-ipo-tesla-competitor-ev-startup-electric-vehicle-public-debut-2021-2">seeking an IPO</a> this year, which could give it a valuation of at least $50 billion.</p><p>Cannabis stocks continued their surge higher on Wednesday as hopes for US legalization under a Biden administration continued. </p><p>Oil prices rose. <a href="https://markets.businessinsider.com/commodities/oil-price'type=wti">West Texas Intermediate crude</a> jumped as much as 0.09%, to $58.41 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest">Brent crude</a>, oil's international benchmark, gained 0.28%, to $61.20 per barrel, at intraday highs.</p><p><a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> rose 0.83%, to $1,852.10 per ounce.</p><p><strong><em>Read More: </em></strong><a href="https://www.businessinsider.com/stocks-to-buy-16-high-conviction-picks-outperform-credit-suisse-2021-2'utm_source=markets&utm_medium=ingest" target="_blank" rel="noopener"><em>Credit Suisse says to buy these 16 'highest-conviction' stock picks that are set to outperform despite the market's contrarian view</em></a></p><p><a href="http://markets.businessinsider.com/news/stocks/us-stocks-continue-record-setting-rally-after-snapping-6-day-win-streak-1030067217#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/coronavirus-myths-debunked-wuhan-china-2020-2">Epidemiologists debunk 13 coronavirus myths</a></p>
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