U.S. Markets

The Dow Jones Industrial Average reached a milestone of 30000. WSJ’s Jason Bellini explains how we got here and what the 30000 figure tells us about the state of the stock market. Photo: NYSE

U.S. stocks opened higher on Tuesday as president-elect Joe Biden was given the go-ahead to start his transition, easing uncertainty around what further delays to his transition could mean for the economy. The blue-chip Dow Jones Industrial Average index rose 265 points, or 0.9%, to 29,856. The S&P 500 added 22 points, or 0.6%, to 3,599. The Nasdaq Composite gained 17 points, or 0.1%, to 11,897. In a holiday-truncated week, the Dow is looking to break through the key 30,000 level. In corporate news, shares of J.M. Smucker rose after it lifted sales guidance on Tuesday.

President-elect Joe Biden campaigned on raising taxes on the wealthy and corporations. But the fate of Biden’s plan rests largely on whether or not Democrats take control of the Senate. WSJ’s Richard Rubin explains. Photo: Olivier Douliery/AFP/Bloomberg

Macy’s has long been identified with the start of the holiday shopping season. But the company was hurting even before the coronavirus crisis hit the retail industry, raising questions about how far Macy’s star could fall. Photo Illustration: Jacob Reynolds/WSJ

U.S. stocks opened near break-even levels on Wednesday amid signs of progress by vaccine-makers in developing a viable weapon against the COVID-19 pandemic's unchecked spread. The S&P 500 was down a point to 3,608. The Dow Jones Industrial Average advanced 46 points, or 0.2%, to 29,830. The Nasdaq Composite fell 0.1% to 11,887. Equities have mostly traded sideways this week as investors continued to watch the trajectory of the coronavirus in the U.S. Pfizer Inc. said the vaccine candidate it has developed with BioNTech SE was 95% effective in an analysis of clinical trial data. Pfizer said it plans to seek authorization for the vaccine in the next few days.

China's holdings of U.S. Treasurys recently fell to its lowest level since 2017, extending a continuous and steady decline of the world's second-largest economy's hoard of U.S. government bonds. Chinese holdings fell to $1.062 trillion in September from $1.068 trillion in August, according to the closely followed Treasury International Capital report. The 10-year Treasury yield traded mostly around 0.70% in September, and is now at 0.87%. Bond prices move inversely to yields.

Leaders in government and tech want to rewrite a law that governs the internet. WSJ explains Section 230, how it shaped the modern internet, and what lawmakers and tech executives want to change. Photo illustration: Carlos Waters/WSJ

After meeting with labor and business leaders Monday, President-elect Joe Biden said that more people could die from Covid-19 if his incoming administration has to wait until Jan. 20 to plan for vaccine distribution. Photo: Andrew Harnik/AP