On Tuesday, there was a full party on Wall Street, driven by positive vaccine news, hopes of strong economic recovery and lower political risk associated with Joe Biden being approved to start the transition process.
The Dow Jones reached an all-time high and closed at 30,045.84 points, after a rise of 1.5 percent. The S&P 500 and Nasdaq also jumped 1.6 and 1.3 percent, respectively.
– This is another reminder of how far stocks and the economy have come since the crash in March. Although 30,000 points is not much different from 29,999 points, there is something special about the big milestones, says chief strategist Ryan Detrick in LPL Financial to CNBC.
The mood was also lifted by the fact that Joe Biden will nominate former Fed chief Janet Yellen as finance minister. According to US media, she will work for additional stimuli to the market.
After Tuesday’s rise, the Dow Jones is up 13 percent in November, which is the largest monthly rise since 1987. The S&P 500 and Nasdaq are up 11.2 and 10.1 percent in November, which is the best month since April.
– I think you see some “catch-up” trades in value stocks. For a very long time, you had investors who only owned five shares. Now they are giving way to 495 others, says trade manager George Catrambone in DWS to CNBC.
Takeoff
The aircraft manufacturer Boeing and the oil company Chevron, among other things, helped to pull up the Dow Jones with an increase of 3.3 and 5 percent, respectively. JP Morgan and American Express both rose more than 3 percent.
Travel stocks such as American Airlines Group and United Airlines Holding were among the winners of the S&P 500.
Tesla jumped 6.4 percent to $ 556.88 after an analyst raised the price target to $ 1,000. General Electric was also positively affected by an analysis update and rose almost 4 percent.
Fear, gold, oil, crypto and interest
The VIX index, popularly called the fear index, fell 4.2 percent to 21.72.
The gold price had a decrease of 1.9 percent and an ounce went at closing time for 1,804.3 dollars.
Brent oil is up 4.6 percent to $ 47.90 a barrel.
Bitcoin rose 3.3 percent to $ 19,014.0.
The 3-month interest rate fell 0.3 basis points to 0.086 per cent.
The interest rate on the 2-year-old had a decrease of 0.7 basis points to 0.162 per cent.
The 10-year interest rate rose 2.3 basis points to 0.882 per cent.
The 30-year interest rate rose by 4.1 basis points to 1,603 per cent.
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