US stocks hit record highs as optimism on economic reopening accelerates

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

US stocks traded at record highs on Tuesday as optimism around an accelerated reopening of the economy increased among investors. The optimism is mostly predicated on a continued plunge in daily COVID-19 cases since the peak of the third wave in early January. On Sunday, there were about 55,000 recorded cases of COVID-19, compared to 93,000 a week ago. The plunge in cases comes as the administration of COVID-19 vaccines accelerates, with the US recently seeing some days with more than 2 million doses given, though a snowstorm and plunging temperatures for about half the country slowed down the vaccine rollout over the holiday weekend. Here's where US indexes stood after the 9:30 a.m. ET open on Tuesday: Read More: The CIO of a $700 million crypto asset manager breaks down why Elon Musk's gradual acceptance of bitcoin means the digital currency has room to run - and shares why it's launching an over-the-counter fund Bitcoin surged past the key $50,000 level on Tuesday, signalling more...