Dow Average Tops 30,000, S&P 500 Jumps to Record: Markets Wrap
- Bitcoin prices surpass $19,000 for first time since 2017
- Oil tops $45 a barrel, dollar weakens with Treasuries
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The Dow Jones Industrial Average topped 30,000 for the first time and investors piled into risk assets as a series of market-friendly developments unleashed animal spirits on Wall Street.
The S&P 500 Index hit a record, spurred by the formal start of President-elect Joe Biden’s transition, news that all but removed the threat of a contested transfer of power. Investors also woke up with a clear sense of what Biden’s Treasury Department will have in policy preferences after he nominated Janet Yellen to the post. A third promising vaccine candidate added to the euphoria, boosting bets that the economy can soar next year.