Investors are optimistic that more generous government spending to help the US economy will be unleashed under Biden.
Joe Biden will be taking an oath of office as president of the United States on Wednesday as Donald Trump’s presidency ends after four tumultuous years.
Trump has been criticised for mishandling the COVID-19 pandemic, which has killed more than 400,000 people in the US – the highest death toll in the world.
He leaves behind an economy that suffers from high unemployment and a bitterly divided society and politics.
Here is an overview of the past four years since Trump took over from former President Barack Obama.