The Dow Jones Industrial Average crossed the 30,000 threshold for the first time Tuesday as investors seemed to cheer what they hope will be a less politically tumultuous next couple months.
The General Services Administration on Monday evening acknowledged Joe Biden's presidential election victory, allowing the already-delayed presidential transition process to move forward. Biden spent Tuesday introducing new members of national security and foreign policy teams, though the biggest excitement on Wall Street came from Monday's reports that former Fed chair Janet Yellen could be America's next Treasury Secretary.
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Financial stocks such as JPMorgan Chase (JPM, 4.6%) and American Express (AXP, 3.7%) raced out of the blocks, as did the Dow's lone energy component, Chevron (CVX, 5.0%). But it wasn't just the "rotation" at work today: Communication services plays such as Disney (DIS, 3.8%) and Comcast (
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