U.S. equity markets rallied sharply Tuesday, catapulting the Dow Jones Industrial Average to above the 30,000 level for the first time as the S&P 500 also booked a fresh record.
Vaccine optimism combined with another solid read on U.S. home prices drove a broad market rally led by Dow members Chevron, JPMorgan and IBM.
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||124.42||+4.33||+3.61%|
|JPM||JP MORGAN CHASE & CO.||123.32||+5.45||+4.62%|
President Trump, speaking at the White House, called the level a “sacred number.”
The rally was also supported by the likelihood that projected President-elect Joe Biden will formally appoint former Federal Reserve Chair Janet Yellen as his would-be Treasury secretary.