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Dow Jones rises to record high

2020-11-25T07:32:54.649Z


The Dow Jones has risen to the highest level in its history. At the start of trading, he climbed over 30,000 points for the first time. There are many reasons.


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Photo: Nicole Pereira / AP

For the first time in its history, the leading US index Dow Jones rose to a level of 30,000 points.

The world's best-known stock market barometer, made up of 30 stocks from large US corporations, just barely exceeded the much-noticed mark - most recently, it was up 1.37 percent to 29,997.57 points.

The reason for this is the growing insight of still-US President Donald Trump to admit his election defeat.

He had instructed the authorities and his staff to cooperate with Biden.

"This development has given the market a nudge in the right direction," said analyst Craig Erlam of trading house Oanda.

The danger of a constitutional crisis in the USA could be averted.

Investors also rate Biden's nomination of former Federal Reserve chief Janet Yellen as future Treasury Secretary positively.

It is considered business-friendly.

"A fascinating comeback for the very competent Fed chief who was fired by Trump," said Neil Wilson, chief analyst of the online broker Markets.com.

Various vaccine announcements had recently caused a new euphoria on the stock markets.

After the promising study results on the corona vaccine from Biontech were announced, the Dax had risen above the 13,000 point mark for the first time since mid-October. 

Bitcoin

price 

 leaps over $ 19,000 mark

Meanwhile,

Bitcoin 

climbed

back to $ 19,000 for the first time in almost three years.

On Tuesday, the price of the cryptocurrency in London climbed to 19,246.90 dollars (around 16,215 euros) at times, the highest level since December 2017. The following year, the value then fell dramatically by 75 percent.

This year, the increase in value began on October 21st - the day when the payment service PayPal opened up to trading in cryptocurrencies and announced that it would also be possible to pay with digital money from the beginning of 2021.

Since then, the price of Bitcoin has increased by more than 60 percent.

The shares of

Tesla also 

continued their record run: They rose by a good five percent to over $ 548.

This means that the manufacturer of electric vehicles is now worth over 500 billion dollars on the stock exchange for the first time.

Company boss and major shareholder Elon Musk was particularly pleased about this: he overtook Microsoft co-founder Bill Gates in the billionaire ranking "Bloomberg Billionaires Index" and is now the second richest person in the world.

Icon: The mirror

hej / dpa

Source: spiegel

All business articles on 2020-11-25

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