According to reports, the Dow Jones Industrial Average rose above 30,000 for the first time after news related to COVID-19 vaccines surfaced. Along with that, news of Trump’s administration approving the transition to Joe Biden arrived, which reportedly had an effect.
The gains that the Dow received put it up 13% for the month, which reportedly is the largest monthly gain it has had since 1987. Companies like Boeing, JPMorgan Chase, Chevron rose over 3% each, which pushed the Dow higher, with the Dow being traded for 30,116.51 at the end of the day. News of this comes as the United States continues to deal with the rise of COVID-19 cases. It was recently noted that the seven-day average of daily new cases reportedly hit 170,855 this past Sunday.
BREAKING: The Dow has rallied more than 400 points to surpass 30,000 for the first time ever. https://t.co/saqjTH8hXY pic.twitter.com/UNXskQrbqk— CNBC (@CNBC) November 24, 2020