By STAN CHOE AP Business Writer NEW YORK (AP) — Wall Street busted through its latest milestone Tuesday, when the Dow Jones Industrial Average topped 30,000 for the first time. The Dow rose 454.97 points, or 1.5%, to close at 30,046.24. Investors were encouraged by progress in the development of coronavirus vaccines and news that the transition of power to President-elect Joe Biden is finally beginning. Traders also welcomed word that Biden has selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary. The milestone is an attention-grabbing psychological threshold, and it's an encouraging signal that the […]
The post EXPLAINER: Why the Dow topped 30,000 for the first time appeared first on Black News Channel.
