Stocks close sharply higher as Dow takes 30,000

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U.S. stocks rallied Tuesday and the blue-chip index captured a psychological milestone as investors cheered progress toward a smooth transition of power in the White House. The Dow Jones Industrial Average added 455 points, 1.5%, to close near 30,046, according to preliminary estimates, while the S&P 500 gained 58 points, 1.6%, ending near 3,635. The Nasdaq Composite index was up 156 points, 1.3%, finishing near 12,037. Markets are looking past what’s likely to be a difficult period as the coronavirus ramps up and anticipating stronger growth in 2021. Travel stocks like American Airlines Group Inc. and United Airlines Holding Inc. were among the S&P 500’s biggest gainers on Tuesday. But a reading of consumer confidence released Tuesday morning was weaker than economists had expected, and suggested households may retreat, rather than spend, this winter.
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