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Wall Street jumps on Biden transition, Tesla tops $500 billion in market cap

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FILE PHOTO: A man wearing a protective face mask walks by 14 Wall Street, as the global outbreak of the coronavirus disease (COVID-19) continues, in the financial district of New York, U.S., November 19, 2020. REUTERS/Shannon Stapleton/File Photo

(Reuters) – Wall Street opened higher on Tuesday as the formal go-ahead for President-elect Joe Biden’s transition to the White House ended weeks of political uncertainty, while Tesla surged 3.3% to cross $500 billion in market capitalization for the first time.

The Dow Jones Industrial Average rose 154.84 points, or 0.52%, at the open to 29,746.11.

The S&P 500 opened higher by 16.93 points, or 0.47%, at 3,594.52, while the Nasdaq Composite gained 58.70 points, or 0.49%, to 11,939.33 at the opening bell.

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