Investors were encouraged by the latest vaccine progress and news that the transition of power in the U.S. will finally begin.
Yellen, who is widely admired in the financial world, would be the first woman to lead the Treasury Department.
Mnuchin said that he is requesting that the Fed return to Treasury the unused funds appropriated by Congress for operation of the programs.
It’s the first increase in five weeks and a sign that the resurgent viral outbreak is likely slowing the economy.
Retail sales growth slowed even as retailers offered early holiday discounts online and in stores.
U.S. Federal Reserve Chair Jerome Powell said Congress “may need to do more” to cushion the blow from the pandemic.
The figures coincide with a sharp resurgence in confirmed viral infections to an all-time high above 120,000 a day.
The EU’s executive commission accuses Amazon of using data to gain an unfair advantage over merchants using its platform.
Markets were already sharply higher when Pfizer said that data shows vaccine shots may be 90% effective at preventing COVID-19.
Kamala Harris makes history as the first woman and the first person of color vice president-elect.
