Tuesday morning brought fresh new record highs to parts of the stock market, and it even sent the Dow Jones Industrial Average (DJINDICES:^DJI) past a key milestone. After having encountered amazing volatility throughout 2020, investors now seem ready to put the year behind them and focus on the promise that 2021 will bring.
As of 11:45 a.m. EST, the Dow Jones Industrial Average (DJINDICES:^DJI) was up 470 points to 30,061, which would be enough for a new record if it finishes the day at that level. The S&P 500 (SNPINDEX:^GSPC) climbed 55 points to 3,632, which would also be a new record close. The Nasdaq Composite (NASDAQINDEX:^IXIC) gained 117 points to 11,998, falling short of reaching unprecedented levels by about 1%.
There were several pockets of success in the stock market Tuesday. Entertainment and energy stocks were prominent among gainers, as hopes for a viable coronavirus vaccine and a jump in oil prices of more than $2 per barrel lifted crude back above $45. Yet the most interesting move came from cannabis stocks like Aurora Cannabis (NYSE:ACB) and Tilray (NASDAQ:TLRY), which jumped apparently in response to something that many people had already taken for granted.