Stocks climbed into record territory as investors on Wall Street breathed a sigh of relief with transition funding now going to President-elect Biden. His choice of Janet Yellin as Treasury Secretary also seemed to comfort investors who have been rocked by political uncertainty and the pandemic. Reports of an imminent vaccine along with positive news on the transition sent the Dow Jones soaring, closing above 30,000 for the first time.
Donald Trump said on the campaign trail and in presidential debates that if Joe Biden was elected, the stock market would crash. So far, it’s going in the other direction.