DOW JONES MAKE A HISTORIC RECORD BY PASSING BY THE 30,000 MARKS

25.11.2020
Market News
25th Nov. - The US major market index recorded a sharp increase today by surpassing the all-time high of 30,000. This is the first time the US30 index is at more than 30,000. The jump also hit other US market indices such as the S&P 500 and Nasdaq 100 which also recorded a sharp increase in the market this week. Some major stocks such as Tesla and Nio played an important role in helping the U.S. market index jump while also creating a history of soaring to all-time highs. The Dow Jones Industrial Average (DJIA) jumped 1.5% or 454 points while the S&P 500 rose 1.6%. Tesla shares (TSLA) recorded an increase of 6.4% and surpassed an all-time high. The surge was driven by market optimism over the discovery after discovery of the Covid-19 vaccine. The discovery of this vaccine is important to give hope to the economic market will recover as usual if the Covid-19 pandemic ends when the vaccine is discovered. From a geopolitical point of view in the U.S., the recent announcement by U.S. President Joe Bidden on the possibility of a recent appointment to fill the Federal Reserve Chairman's seat gives added confidence to the economic development there. Janet Yellen, the former FEDS chairman, is expected to be re-appointed to the most important seat in the FEDS.---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------AHMAD FAIZUDDIN BIN RAZALICHIEF ANALYST OF CDG GLOBAL