THE NEW YORK TIMES: Stocks on Wall Street climbed for a second day on Tuesday, buoyed by news that President-elect Joseph R. Biden Jr. had chosen a former Federal Reserve chair, Janet L. Yellen, to be the next Treasury secretary, and as the Trump administration’s efforts to contest the election were further diminished as several key states certified Mr. Biden’s victory.
The S&P 500 rose about 1.5 percent, and by late morning was trading above its most recent closing record of 3,626.91, reached on Nov. 16. The Dow Jones industrial average rose to a new high, crossing above the 30,000 mark for the first time.
The gains on Tuesday seemed to reflect optimism about the economy, with shares of economically sensitive companies among the best performers. Oil prices also jumped to levels not seen since early March. » | Eshe Nelson | Tuesday, November 24, 2020
