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Wall Street Excited On Vaccine News, Political Transition And Yellen’s Appointment

Donald Trump on Tuesday hailed the 30,000-point mark for the Dow Jones, described as a sacred figure, in a very brief speech from the White House, and welcomed the introduction of coronavirus vaccines, which he found completely amazing. The President, however, did not talk about the political transition, nor did he respond to questions from journalists present. Donald Trump has also linked his popularity as President to the increase in the stock market during his term, which saw the DJIA go from 20,000 to 30,000 points (+50 percent). He also expected that the markets would collapse if Joe Biden was elected president.

In recent weeks, the New York Stock Exchange has been boosted by good news on the coronavirus vaccine front, with very strong indications of efficacy for the vaccines from Pfizer/BioNTech and Moderna; and to a lesser degree, that of Astrazeneca. The 2021 population vaccination prospects cultivate optimism for a sustainable economic recovery and a steady return to normal life next year.

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The possibility of an ultimately peaceful political transition between Donald Trump and Joe Biden has relieved world financial markets since Monday evening. After the failure of several attempts to contest the presidential election in court, Donald Trump, after the markets closed, eventually gave his green light to Joe Biden on Monday evening for the process of shifting power. However the Republican also refrained from explicitly accepting his Democratic opponent’s win.

For his part, the elected president began to shape his government without delay for his inauguration on January 20 in the White House. According to his associates, after becoming the first woman president of the Fed between 2014 and 2018, he should name economist Janet Yellen to the main position of Treasury Secretary, who will become the first woman to hold this position.

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