In Dow-Morning trading, the Dow rose nearly 400 points, or 1.4%. The Blue Chip Index is at a new all-time high in the process and is closing at the 30,000 mark.
News came on Monday that the General Services Administration was launching a so-called determination process, which would allow Trump administration officials to coordinate with the Biden team. And that follows a more promising coronavirus vaccine development on Monday, as well as sources confirming to CNN that former Federal Reserve Chairman Janet Yellen will be Biden’s candidate for Treasury Secretary.
Large industries such as energy stocks also saw a rise in oil prices Occasional Petroleum (OXY) And Marathon oil (MRO).
Shares of travel-related companies such as airlines, cruise lines and hotels also rallied on the prospect of a more general economy in 2021. Carnival (CCL), Delta (DAL) And Marriott (M.R.) The early trades were all over.
Euphoric trading tremendous for many momentum investments even on Tuesday.
Tesla (TSLA), Set to add to the S&P 500 next month, hit a new record high and is now valued at more than 500 500 billion.
In marijuana stocks Aurora (A.C.B.), Tillere (TLRY), Canopy Growth (C.G.C.) And Kronos (CRON) Also rebounded on Tuesday, investors believed the Biden administration could seek to decriminalize marijuana at the federal level. Some more states have legalized recreational marijuana.
And cryptocurrency darlings are moving closer to the heights of bitcoin records. Bitcoin prices hovered around $ 19,400 on Tuesday – below its December 2017 peak of 19,783.
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