Optimism about three potential COVID-19 vaccines helped the Dow Jones breach the 30,000 mark for the first time in history. The political stand-off in the US nearing a conclusion also helped the index make this all-time high leap.
The index of blue-chip companies soared and marked a gain of 1.5%, which is also its highest in intra-day trading in history. This is a clear sign of investors showing faith in economic recovery in the near future.
The trends is moving up and if it breaks the current price level, then it may move up to the next resistance level of 30,500. On the other hand, if the trend reverses, then the price may go down to the next support level, which is 29,100.
The global stock market index is trading at a record level as well. The Nasdaq Composite Index soared 1.3% high to close at 12,036 while the S&P 500 gained 1.6% to close at 3,635.
Investors around the globe now believe that once the vaccine is out, economic recovery will take no time and that the strength of global economy will be better than ever before in 2021.