Investor Alert

Market Pulse Archives

Nov. 23, 2020, 3:18 p.m. EST

Dow heads to session highs Monday as ex-Fed boss Yellen seen as Biden's pick for Treasury Secretary

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)
  • X
    NASDAQ Composite Index (COMP)

or Cancel Already have a watchlist? Log In

By Mark DeCambre

U.S. stocks were trading near session highs on Monday as investors digest a report that former Federal Reserve boss Janet Yellen would be President-elect Joe Biden's pick for Treasury Secretary, the Wall Street Journal reported . If confirmed, Yellen would become the first woman to hold the post, taking over from Steven Mnuchin, the Journal reported. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.16% was up nearly 400 points, or 1.3%, at 29,642, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.25% was trading 0.7% higher at 3,583, while Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -0.38% climbed 0.5% at around 11,913. Biden had promised to make his nomination for Treasury known around Thanksgiving, which is three days away. Biden last week said he believed his pick would be widely accepted by conservatives, moderates and progressives alike. Market participants are anticipating a greater likelihood that the 74-year-old Yellen will pursue further economic stimulus to help out-of-work Americans and troubled businesses.

US : Dow Jones Global
-54.34 -0.16%
Volume: 293.36M
May 17, 2021 5:17p
-10.56 -0.25%
Volume: 2.27B
May 17, 2021 5:17p
US : Nasdaq
-50.93 -0.38%
Volume: 3.61M
May 17, 2021 5:16p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.