The Dow Jones ends for the first time above 30,000 points

Investors hailed the start of the political transition in the United States and the positive developments on the health crisis front.

The New York Stock Exchange’s flagship index, the Dow Jones Industrial Average, broke the symbolic 30,000 point mark at the close for the first time on Tuesday, with investors hailing the start of the political transition in the United States and positive developments on the health crisis front.

The Dow Jones appreciated 1.54%, or 454.97 points, to end at 30,046.24 points. It peaked at 30,116.51 points in the session. In March, at the start of the coronavirus pandemic in the United States, this index, which regroups the shares of big star companies, like Apple (+ 1.16%) and Boeing (+ 3.29%), had plummeted, passing briefly under 19,000 points, before moving forward. “The market has recovered well since the lows in March”, observe Art Hogan de National Holdings. “It shows that he has found a way to move forward.” “There is good news about vaccines and the American political situation and the economic data is rather stable”, specifies the expert.

Since Donald Trump’s inauguration on January 20, 2017, the Dow Jones, created nearly 125 years ago and composed of 30 members, has grown by more than half. The outgoing US president, who has often boasted of good stock market performance during his mandate, also welcomed this new level on Tuesday. “The Stock Exchange (sic) exceeded 30,000 points, which had never been done”, Donald Trump said in a particularly short press conference. “That’s a sacred number, 30,000. No one ever thought they would see him. ” “This is the 9th time since the start of 2020 and the 48th time that a record has been broken under the Trump administration” (for the Dow Jones, note), added the tenant of the White House. “I want to congratulate all the members of the administration who have worked so hard.”

The big clues also in the green

The other major indices of the New York market also ended in the green on Tuesday: the extended S&P 500 index gained 1.62% to 3,635.41 points, also finishing at a record, and the Nasdaq, at strong technological coloring, appreciated 1.31% to 12,036.79 points. The New York Stock Exchange had already finished higher on Monday, first benefiting from a new announcement on a coronavirus vaccine, then enthusiastically welcoming the information that Janet Yellen was to be appointed Treasury secretary by Joe Biden: the Dow Jones gained 1.12%, the Nasdaq gained 0.22% and the S&P 500 climbed 0.56%.

If he refrained from directly recognizing the victory of Democrat Joe Biden, outgoing President Donald Trump has “recommended” Monday evening that the government agency responsible for the transfer of power to the United States “what is necessary” concerning protocols. On Monday, the announcements of the British laboratory AstraZeneca on the effectiveness of its vaccine against the coronavirus, developed in association with the University of Oxford, had delighted investors, succeeding those of Pfizer / BioNTech and Moderna in previous weeks. The very sharp drop in US consumer confidence in November, according to the Conference Board index released on Tuesday, did not weigh on the market.

Tesla is worth more than 500 billion on the stock market

Among the values ​​of the day, the specialist in the sale of electronic equipment Best Buy (-6.96%) fell despite quarterly results above expectations. The group has not issued a financial outlook due to uncertainties related to the pandemic. The sporting goods distribution chain Dick’s Sporting Goods (+ 0.31%) made some progress after performing satisfactorily in the third quarter. The group also announced the name of its new boss, Lauren Hobart, who will replace Edward Stack, the company’s CEO since 1984, in February. Food giant McCormick (+ 1.93%) rose after the announcement of the takeover of hot sauce maker Cholula for $ 800 million in cash.

Tesla (+ 6.43%), which will enter the S&P 500 index next month, continued its impressive climb, which allowed the electric vehicle maker to reach close for the first time. His boss Elon Musk became the second richest man in the world on Monday evening, ahead of Bill Gates and behind Jeff Bezos, according to the billionaire rankings established by Bloomberg.