Indices In The USA Started The Week With a Rally After Biden’s Victory

Indices In The USA Started The Week With a Rally After Biden’s Victory Following the new developments in the coronavirus epidemic and Biden’s victory, indices in the USA started the week with a rally. Indices in the USA started the new week by rallying with the developments regarding the coronavirus epidemic and the winner of the presidential election, Joe Biden. At the opening, the Dow Jones index rose more than 1,500 points and started trading at 29,890.78 points, with 5.53 percent gain. The S&P 500 index rose 3.81 percent to 3,643.10 points, and the Nasdaq index rose 1.22 percent to 12,040.44 points. This rise in the indices was supported by the positive developments in coronavirus vaccine studies and the finalization of the presidential elections in the USA. It became clear that Joe Biden won the 59th presidential election held on 3 November. Trump argued that there was an election irregularity. The development of the coronavirus vaccine is reported to be more than 90 percent effective against the virus, the potential vaccine is developed by the American pharmaceutical company Pfizer and the German biotechnology company BioNTech of which the Turkish scientist Prof. Dr. Uğur Şahin is the founding partner. According to the joint statement made by the two companies, the vaccine was tested on 43 thousand 538 candidates in 6 countries. Accordingly, it was stated that there has been no serious security concern in the trials until today and companies are planning to apply to the US Food and Drug Administration (FDA) for emergency approval by the end of this month.