Dow Soars By More Than 1,300 Points After Wall Street Opening Bell
The Dow Jones Industrial Average soared by more than 1,600 points after the opening bell on Monday, its first day of trading since Democratic nominee Joe Biden was projected by all major news outlets as the winner of the 2020 presidential race.
The blue chip stock index rose by about 1,610 points in the opening minutes after the starting bell.
Within 15 minutes, the Dow was up about 1,370 points. The S&P 500 was up 120 points, more than 3%, and the Nasdaq composite was up about 80.
Biden was projected on Saturday as the winner of the presidential contest after the major outlets called Pennsylvania in his favor. The state's 20 electoral votes put Biden over the 270 mark needed to win. President Donald Trump has refused to concede.
The Dow's movement also followed an announcement by drugmaker Pfizer earlier Monday, which reported that late-stage data for its COVID-19 vaccine has so far indicated that the vaccine is about 90% effective.
Also Monday, Biden's transition team announced its 13-member COVID-19 advisory task force, which will be co-chaired by former U.S. Surgeon General Vivek Murthy, former Food and Drug Administration Commissioner David Kessler and Marcella Nunez-Smith, a public health expert at the Yale School of Medicine.
Colonial Surety Company Introduces Simplify And Partner: A New Online Digital Approval Process for Contractors
AXA XL and Xtract partner to digitize Commercial Auto claims
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News