Jakarta, CNBC Indonesia – United States (US) stock exchange at Wall Street closed positively on trading Tuesday (11/25/2020). This is due to the smooth transition of US President-elect Joe Biden plus the announcement of the Astrazeneca vaccine, which has an efficacy of above 90%, following Pfizer and Moderna.
The Dow Jones Industrial Average (DJIA) soared above 30,000 points for the first time when Wall Street hit a new record. Initially the blue-chip in the index fluctuated slightly but ended at 30,046.24, up 1.5%.
Meanwhile the S&P 500 also closed up 1.62% at 3,635.41. The Nasdaq Composite Index also rose 1.3% to the level of 12,036.79.
Launch AFP, investors feel more confident that the US can avoid a constitutional crisis during the transition to power. President Donald Trump, who still has not acknowledged his defeat in the November 3 presidential election, officially allowed the transition on Monday (23/11/2020).
This opens the door for Biden to have access to funds, office space, and the ability to meet with federal officials. Biden also introduced several cabinet names yesterday.
In addition, investors were also ‘happy’ by the announcement of an optimistic coronavirus vaccine by British pharmaceutical company AstraZeneca and the University of Oxford. Including news that Biden will appoint former Federal Reserve Chair Janet Yellen as US Treasury Secretary.
“Yellen is a known and respected face on the international scene,” said a note from High Frequency Economics, adding that the former Fed chairman was not known as a hardline critic of Wall Street.
Even so, the number of new daily cases of the US coronavirus rose well above 100,000, raising concerns about the impending blow to the economy.
Boeing company shares rose 3.3% while Chevron 5%. Goldman Sachs was up 3.8% and JPMorgan was up 4.6%. Other companies that also made profits yesterday include Disney American Express and IBM.
(Head / head)
– .
