The daily business briefing: November 25, 2020

The Dow breaks the 30,000 barrier, Purdue Pharma pleads guilty in opioid deal, and more

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1. Dow breaks 30,000 barrier with help from vaccine, transition news

The Dow Jones Industrial Average broke through the 30,000 barrier for the first time on Tuesday with boosts from positive coronavirus vaccine news and a key step forward for the transition to President-elect Joe Biden's administration. The Dow closed up by nearly 1.5 percent at 30,015, just under four years after reaching the 20,000 mark for the first time. President Trump, speaking a day after telling his administration to stop blocking the presidential transition, held a brief news conference. He spoke for less than a minute, calling the 30,000 mark a "sacred number" and congratulating "all the people within the administration that worked so hard." He closed the event without answering questions. Dow and S&P 500 futures pulled back slightly early Wednesday.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.