The 30-stock Dow surged 454.97 points, or 1.5%, to close at 30,046.24. At its high of the day, it traded at 30,116.51. Chevron rose 5% to lead the Dow higher. JPMorgan Chase and Goldman Sachs rose 4.6% and 3.8%, respectively.
“I certainly wouldn’t want to be net short the market,” said billionaire investor Stanley Druckenmiller.
Druckenmiller’s comments came as U.S. stocks ripped higher on news that a coronavirus vaccine candidate from Pfizer and BioNTech was highly effective during a late-stage trial.
Electronic brokers were experiencing outages on Monday amid record highs in the Dow and S&P 500.
Charles Schwab said some clients are having difficulty logging in to their accounts and hold times are longer than usual.
Vanguard, TD Ameritrade and Fidelity also tweeted some clients were having technical problems.
Bitcoin was last trading almost 9% higher at a price of $15,233, according to data from industry website CoinDesk.
The world’s best-known cryptocurrency has been on a tear in 2020, more than doubling in value year-to-date.
Some analysts have linked its rise to unprecedented stimulus from global governments and central banks.
The EU wants to ensure that competitors have a fair chance to succeed against the big firms.
Google has already voiced its concerns about the upcoming rules.
Apart from some lobbying, there is nothing the tech giants can do to stop the new rules in the short-term, Clifford Chance’s Vinje said.
Thousands of bitcoins — worth $1 billion — were seized by law enforcement this week in what the Justice Department said was the largest seizure of cryptocurrency in the history of agency.
The cryptocurrency is linked to sales of illicit drugs and goods on Silk Road, a dark web marketplace that shut down in 2013.
“Silk Road was the most notorious online criminal marketplace of its day,” says U.S. Attorney David Anderson of the Northern District of California. “The successful prosecution of Silk Road’s founder in 2015 left open a billion-dollar question. Where did the money go?”
The plan to switch locations comes at a time when London’s finances are under pressure.
It is hoped the move will help authorities save millions of pounds.
China’s Vice Foreign Minister Le Yucheng said Thursday he hoped the U.S. presidential election would proceed stably and smoothly.
He was speaking at an unrelated press conference, according to state media.
Chinese-language state media have been relatively muted on the U.S. presidential election, amid rapt attention from many social media users and privately run media outlets.
Economies in Asia are set to benefit as China’s shows a strong rebound from the coronavirus pandemic, says Invesco’s David Chao.
In particular, the focus is on “whether the Chinese consumer can quickly return back to normalized activity,” Chao said.
Chao’s comments came after recent data showed China’s manufacturing activity expanded in September, pointing to a continued recovery for the world’s second-largest economy.
Trump left Walter Reed National Military Medical Center on Monday night, though White House physician Dr. Sean Conley acknowledged earlier in the day that Trump “may not be out of the woods yet.”
