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Data: FactSet; Chart: Axios Visuals

U.S. stock prices were generally higher on Wednesday and riskier assets in most markets rose as investors showed little worry about protests in Washington, D.C. that devolved into violence and looting at the nation's capital by supporters of President Trump.

What happened: "The market primarily is looking at an economic recovery in the second or third quarter and hasn’t seen anything in the pandemic or political situation to change that view," Joseph Trevisani, senior analyst at FXStreet, tells Axios.

  • Traders were much more focused on victories by Democrats Raphael Warnock and Jon Ossoff in Georgia's runoff elections that will likely mean more relief funds, including increased direct payments of $2,000 to Americans that expected Senate Majority Leader Chuck Schumer has said is a top legislative priority, he added.
  • "The stuff in D.C. is not a serious event and I don’t think anyone’s taking it seriously. There will be no long-term political ramifications as far as the political transition in a few weeks."

In fact, Wednesday's chaos dashed "any lingering uncertainty about a transition of power in D.C. come Inauguration Day," Danielle DiMartino Booth, CEO of Quill Intelligence, says in an email.

  • "Investors received verification that the recently enacted $908 billion relief bill is but a down payment on stimulus spending to come."

One level deeper: The 50-50 split in the Senate paves the way for three things the market likes — more stimulus, a more difficult path for tax increases and a very likely confirmation of former Fed chair Janet Yellen as Treasury secretary.

The bottom line: There are four factors at play, Gregory Daco, chief U.S. economist at Oxford Economics, tells me on Twitter (also noting that a "coup d'état is only worth -0.6% on the #SP500, & we're only 0.2% from the all-time high close"):

"1. Chaos/violence banalized
2. Assumption that unrest is transitory (14 days)
3. Georgia wins for Dems mean more fiscal stimulus coming
4. Fed put is solidly in place"

Go deeper

Dion Rabouin, author of Markets
Jan 28, 2021 - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Updated 22 mins ago - World

Myanmar military fires UN ambassador after anti-coup speech

Photo: Peerapon Boonyakiat/SOPA Images/LightRocket via Getty Images

Myanmar's military regime on Saturday fired the country's ambassador to the United Nations, Kyaw Moe Tun, a day after he gave a pro-democracy speech asking UN member nations to publicly condemn the Feb. 1 coup, The New York Times reports.

The latest: Kyaw Moe Tun told Reuters later on Saturday, "I decided to fight back as long as I can."

1 hour ago - Axios on HBO

Preview: "Axios on HBO" interviews White House Senior Advisor Cedric Richmond

On the next episode of "Axios on HBO," Axios co-founder Mike Allen interviews White House Senior Advisor Cedric Richmond.

  • Catch the full interview and much more on Sunday, February 28 at 6 pm. ET/PT on all HBO platforms.