The Dow Jones Industrial Average closed above 37,000 for the first time on Thursday, November 12th, 2020. The Dow was up more than 500 points, closing at 37,076.56. This was the second time the Dow topped 37,000 this month, demonstrating investors’ renewed optimism about economic growth thanks to the rapid development and approval of multiple COVID-19 vaccines. The surge in the Dow was due in part to the news that Pfizer and BioNTech’s vaccine candidate had shown to be more than 90 percent effective in preventing COVID-19. The Nasdaq also climbed 1.7 percent, and the S&P 500 was up 1.4 percent.
