The S&P 500 and Dow Jones reached record highs yesterday, in what could be an unprecedented recovery at the start of the holiday season. In fact, they have grown more than 60% from the low point caused by the pandemic crisis. As a result, yesterday the DJI rose 1.62%, the SPX rose 1.62% and the NDX, while not reaching an all-time high, also grew significantly by 1.46%.

It appears that the announcement made by the U.S. General Services Administration to President-elect Joe Biden in which they ratified their support for a peaceful transition of power next year motivated investors and propelled most assets into positive territory. This, coupled with the optimism brought by the leading pharmaceutical companies in the race to approve the COVID-19 vaccine, led finance, industry, and energy-related shares to a critical rebound for the performance of the economy in the face of what could be one of the fastest and most significant recoveries in history 🤯. At the same time, energy surprised when it closed with a 5% growth thanks to the increase in oil prices, after having had significant months of decline. WTI has seen a 25.2% spike from its early November low of $35.74 to $43.16 per barrel. Brent has also performed exceptionally, with a 27.5% rally from $37.57 to $47.9 per barrel.

Airlines were not far behind, fueled by American Airlines which increased 9.29%, Boeing 3.29%, and United Airlines 9.85%. Banks joined the gains with Wells Fargo growing 8.78%, Goldman Sachs 3.79%, JPMorgan 4.62%, Bank of America 5.81%, and Citigroup 7.05%.

The Fight for Transportation:

Pfizer and Moderna could start shipping their vaccines in mid-December to some of the populations most vulnerable to the virus: health workers and people over 70. This is wonderful news for some, but for companies like Walmart and Amazon, it’s not so wonderful as it could mean that Christmas season deliveries will be delayed because vaccines will be prioritized. It seems that in such an atypical year for us, Christmas gifts will have to wait as well.

Bitcoin, Bitcoin, Bitcoin

Bitcoin still doesn’t disappoint and is now close to $20,000, becoming a haven for many. Meanwhile, investors and economic analysts have risked saying that the cryptographic currency could reach $100,000 in the next year. What do you think?