Advances in coronavirus vaccines helped U.S. stocks once again on Monday, while the return of the U.S. outbreak scares investors in the short term. Therefore in the coming months, Covid-19 continues to weigh on development before mass vaccination makes a gradual return to normal life. Today’s statistics showed that in November, new lockdowns weighed on the economic activity of Europe where some countries have recently implemented lockdown restrictions, while the United States remained dynamic.
The Dow Jones index rose 1.12 percent to 29,591 points at the close, while the large S&P 500 index advanced 0.56 percent to 3,577 points, following a rise at the beginning of the session of nearly 1 percent. The Nasdaq Composite, on the other hand, rose more modestly by 0.22 percent to 11,880 points, rich in technology and biotech stocks.
Revelations from the Wall Street Journal that Joe Biden selected Janet Yellen, the former Fed chair, for the powerful position of treasury secretary were very well received by the financial community, which respected Ms. Yellen’s leadership of the gradual increase in key interest rates from 2014 to 2018.
Markets fear that the Thanksgiving holiday on Thursday, which involves family reunions and several trips, may be a trigger for the United States pandemic. Black Friday could also exacerbate the situation, which could see an explosion of customers in supermarkets.
On the other end of the Atlantic in Europe, the authorities are now planning to ease the restrictive measures in the run-up to Christmas in Europe, where several countries have taken new lockdowns since the end of October to stem the second wave of Covid-19. In the United Kingdom, on Monday, Boris Johnson announced the removal of national lockdown as of 2 December, and in France, Emmanuel Macron is expected to intervene on Tuesday to announce the steps of a phased withdrawal from lockdowns as of 30 October.