* After delay, US government officials approve Biden’s transition
* The Dow Industrials Index is trading over 30,000 for the first time
* Bitcoin is trading over $ 19,000, record eyes (price of updates)
NEW YORK, Nov. 24 (Reuters) – Shares hit record highs on Tuesday, while bitcoin and oil prices also rose as political uncertainty eased after US President-elect Joe Biden obtained a the formal green light to begin his transition to the White House.
Unless he clarifies his defeat after repeated false claims that he won the Nov. 3 race, President Donald Trump said on Monday he told the federal agency that he must approve the presidential transition to begin the process.
Japan’s Nikkei closed at its highest level since 1991, European stocks hit their highest level since February, and Wall Street’s Dow Industrials hit a record high above 30,000, reports of the appointment by Biden of former Federal Reserve Chairman Janet Yellen, attracting more risk investors.
All of this is happening against the backdrop of optimistic news about the COVID-19 vaccine, including likely injections for some first responders in a few weeks and a very successful so-called ‘vaccine for the world’ that could be more easily distributed even to people. poorer. countries.
“Investors expect a Yellen-led Treasury alongside Fed Chairman (Jerome) Powell to provide unprecedented monetary and fiscal policy coordination that will energize struggling sectors of the US economy,” said Edward Moya, senior market analyst at OANDA in New York. .
The Dow Jones Industrial Average rose 431.37 points, or 1.46%, to 30,022.64, the S&P 500 gained 55.83 points, or 1.56%, to 3,633.42 and the Nasdaq Composite added 151.08 points, or 1.27%, at 12,031.71.
The pan-European STOXX 600 index rose 0.91% and the gauge of MSCI stocks around the world gained 1.41%, on track to close at a record high.
Emerging market equities rose 0.39%. The MSCI’s largest Asia-Pacific stock index outside of Japan closed 0.5% higher, while Japan’s Nikkei rose 2.50%.
Bitcoin has risen more than 5% and has $ 20,000 on the horizon, with traders expecting volatility to come in part due to Thursday’s Thanksgiving holiday in US markets. Gold fell for the fifth session in six.
“Trading conditions will likely be volatile for the rest of the week, and crypto traders should expect $ 1,000 fluctuations within minutes,” OANDA’s Moya said of bitcoin.
In other money markets, the dollar was under pressure from the expected Yellen push for fiscal stimulus.
The dollar index fell 0.277%, with the euro up 0.31% to $ 1.1877.
The Japanese yen was stable against the greenback at 104.56 per dollar, while the British pound last traded at $ 1.3357, up 0.26% on the day.
An emerging market currency index changed little that day. It peaked at 2-1 / 2 years last week.
Also boosted by vaccination hopes, oil has reached levels not seen since before the coronavirus pandemic began to spread in March.
“The possibility of having a vaccine next year increases the chances that demand will return in the new year,” said Phil Flynn, senior analyst at Price Futures Group in Chicago.
US crude rose 4.3% to $ 44.91 a barrel and Brent was at $ 47.81, up 3.8% on the day.
Spot gold fell 1.7% to $ 1,804.30 an ounce. Silver fell 1.64% to $ 23.19.
Long-term treasury bill yields continued to rise, further steepening the yield curve in the United States as investors rushed to riskier investments.
The 10-year benchmarks last fell 6/32 to return 0.8766%, down from 0.859% on Monday night.
The 30-year bond yield was last at 1.5954%, down from 1.563% and the 2-year note was last at 0.1641%, after 0.169%.
Reporting by Rodrigo Campos; additional reports from Laila Kearney and Herbert Lash; edited by Jonathan Oatis and Nick Zieminski