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The New York Stock Market - pity, that

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Nothing drags down a market like uncertainty.

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The news came two days after Joseph R. Biden Jr. Markets had already been on the upswing, as investors warmed to the possibility last week that Mr. Biden would win the presidency and that Republicans could maintain their grip on the Senate.

The New York Stock Market

Many investors view a divided government as a positive development because it would rein in Democratic priorities such as higher taxes and major regulatory overhauls, which some consider a potential risk to stock prices. Relief that the vaccine data is stronger, at least from Pfizer, than many anticipated.

The momentum gathered pace when, shortly before 7 a. While analysts had long assumed a vaccine link emerge from the many candidates currently in trials, the efficacy rate was significantly higher than what many were expecting.

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The market gave up one percentage point of gains in the final half-hour of trading after the Senate majority leader, Mitch McConnell, said Mr. The Dow Jones industrial average jumped Ned 3 percent, led by a gain of 21 percent for American Express, while Boeing rose 14 percent. The domestically focused Russell index of small-capitalization stocks surged 3. Major markets across Asia and Europe also posted significant gains.

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Markets in Europe — where a resurgence of Covid cases has prompted renewed The New York Stock Market in Germany, France and Britain — romped higher once Pfizer disclosed Stockk results. After all, the United States is still setting records for new coronavirus cases, the economy is still in the grip of a recession, and it could be months before a vaccine is widely available.

But investing by its nature looks to the future, and on Monday investors were basing their buying and selling on their expectations of what the world could look like in a few months, rather than what it looks like today.

The New York Stock Market

Moore of BlackRock said. Carnival, the cruise line, rose nearly 40 percent.]

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