Stocks soar with the onset of the Biden transition


The Dow rose nearly 400 points, or 1.4%, in morning trading. The blue chip index reached a new all-time high in the process and dropped to the 30,000 level.
On Monday, there was news that the General Services Administration would begin a so-called finding process that would allow Trump administration officials to coordinate with the Biden team. This, in turn, follows Monday’s developments in the more promising coronavirus vaccine, as well as reassuring sources for CNN that former Federal Reserve President Janet Yellen will be Biden’s finance ministerial candidate.
Oil prices have also risen, raising large energy reserves Occidental Petroleum (OXY) and Marathon oil (MRO).
Shares of travel-related companies such as airlines, cruise companies and hotels also rebounded in 2021 due to hopes for a more normal economy. Carnival (CCL), Delta (SONG) and Marriott (MAR) they were all higher in early trading.

The euphoric frenzy of vigorous investment also continued on Tuesday.

Tesla (TSLA), which is expected to be added to the S&P 500 next month, has reached a new record high and now exceeds $ 500 billion.
Cannabis supplies dawn (ACB), Tilray (TLRY), Canopy growth (CGC) and Cronos (CRON) it also soared on Tuesday, renewing their starburst this month as investors speculated that the Biden government might try to decriminalize marijuana at the federal level. Several states have legalized recreational cannabis.

And the cryptocurrency’s lovely bitcoin has moved closer to record highs. Bitcoin’s exchange rate hovered around $ 19,400 on Tuesday – barely below its December 2017 high of $ 19,783.