Stocks climb on Wall Street as Biden transition begins

[Yo_Mama_Been_Loggin]

Stocks are broadly higher on Wall Street in early trading Tuesday, extending a monthlong market rally driven by growing optimism that development of coronavirus vaccines and treatments will loosen the pandemic's stranglehold on the economy.

The S&P 500 index was up 0.9%, with traders favoring stocks that stand to gain the most from a gradual reopening of the economy, such as banks and industrial companies like Boeing. Overseas markets also rose. Treasury yields and oil prices were headed higher.

The Dow Jones Industrial Average rose 342 points, or 1.2%, to 29,934 as of 10:10 a.m. Eastern time. The Nasdaq composite was up 0.3%.

The gains follow news that the transition of power in the U.S. to President-elect Joe Biden will finally begin. On Monday, the head of the federal General Services Administration acknowledged that Biden is the apparent winner of this month’s presidential election. That allows the incoming president to coordinate with federal agencies on plans for taking over on Jan. 20, despite ongoing efforts by President Donald Trump to overturn the election.

https://www.msn.com/en-us/money/markets/stocks-climb-on-wall-street-as-biden-transition-begins/ar-BB1bjNX0?li=BBnbfcL

But you watch. Trump will try to take credit for it.

[malaise]

1. But the lane fuck

took to the podium to claim the Bow increase while ignoring the galloping Covid dead and infected.

[House of Roberts]

2. I'm going to take credit for this increase.

I called my 401k people when the market recovered after the vaccine announcement, and pulled everything out into cash.

That day, the Dow was +1100 when I made the call, and had gone to +1300 as I hung up the phone. I'm still out and I'm staying out until the bubble breaks.