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11/23/2020, 10:00 PM (Source: TeleTrader)
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US closes mostly higher as Biden expands WH team

Stock markets on Wall Street closed mostly in the green on Monday after several media reports claimed that United States President-elect Joe Biden chose former Federal Reserve Chair Janet Yellen to serve as the Treasury secretary in his government, which is expected to include several officials from the Obama administration as well. Also, the business activity in November in the US jumped to the highest level since March 2015, IHS Markit reported.

The Dow Jones Industrial Average index jumped 1.12%, or 328 points, at the close. Chevron was the best performer, surging 6.20%. The Nasdaq 100 was flat as biotechnology company Seagen lost 3.08% at the end of the trading session. The S&P 500 closed 0.56% higher, as Occidental Petroleum led the gains, soaring 16.83%.

The euro was 0.17% lower compared to the dollar, changing hands for 1.18380 at 3:59 pm ET.

Breaking the News / MS