[ad_1]
Speculation that vaccines and a possible peaceful presidential transition are steps towards normalizing the economy ignited another rally in pandemic-ravaged stocks, pushing the Dow Jones Industrial Average above 30,000 for the first time.
Boeing Co., a chronic brake on the 124-year index for most of the year, rose as much as 5%, while JPMorgan Chase & Co., American Express Co. and Chevron Corp. rose at least 3%. Earnings outside the blue-chip benchmark were even greater: American Airlines Group Inc. and Carnival Corp. were up more than 8% while cinema operator AMC Entertainment Holdings Inc. was up 15%.
Once lagging behind, the Dow and its cyclical components have risen 13% since Halloween, putting it on track for the best month since 1987. Gains in the world’s most popular stock index mirror a deep market rally in November when growing optimism about an economic reopening has pushed up industries such as energy and banks that have suffered from residence restrictions and the policies adopted to address them.
.[ad_2]Source link
