Big news to share. For the very first time since the coronavirus struck, the Dow Jones Industrial Average closed higher than the pre-COVID peak, giving President Trump a major feather in his cap before he has to move on.
The Dow closed on Monday, citing news of a second successful virus vaccine, at 29,950.
It reached its previous record of 29,551 on Feb. 12.
As is well documented, the Dow did a free fall at 8,591 on the 20th of March in the following months.
It has reached 29,551 in a couple of days, but never closed higher.
The Dow ended the day up 471 points, or 1.6%, and is now close to reaching 30,000 points for the first time. It appears to have put behind it for now a period of uncertainty ahead of the election that hurt markets.
It was the second positive news on COVID-19 for markets after Pfizer last week similarly announced positive developments for its experimental vaccine.
The S&P 500 rose 1.2% to its highest close ever, while the Nasdaq finished up 0.8%.