Stock markets extended gains on Monday after news broke that President-elect Joe BidenJoe BidenBiden team wants to understand Trump effort to ‘hollow out government agencies’ Overnight Defense: Trump transgender ban ‘inflicts concrete harms,’ study says | China objects to US admiral’s Taiwan visit Protect our world: How the Biden administration can save lives and economies worldwide MORE planned to nominate Janet YellenJanet Louise YellenThe Hill’s Morning Report – Presented by the UAE Embassy in Washington, DC – Trump OKs transition; Biden taps Treasury, State experience The Memo: Trump election loss roils right On The Money: Biden to nominate Yellen for Treasury secretary | ‘COVID cliff’ looms | Democrats face pressure to back smaller stimulus MORE as Treasury Secretary.

Click Here: Maori All Blacks Store

The Dow Jones Industrial Average closed up 328 points, or 1.1 percent, and the S&P 500 rose 20 points, or 0.6 percent.

Both indexes had started the day in positive territory on news that a third COVID-19 vaccine from AstraZeneca was up to 90 percent effective.

ADVERTISEMENT


They extended gains when The Wall Street Journal broke the news of Yellen’s pick.

Yellen, who will be the first woman to lead the Treasury if confirmed, is widely respected for work as Federal Reserve Chair from 2014 to 2018, a position in which she also served as the first woman.

Markets have remained volatile in recent weeks, reacting positively to news of COVID-19 vaccines and Biden’s election, but dropping as daily case counts for COVID-19 have soared while the prospects of a stimulus have become increasingly distant.