Stocks on Wall Street rallied to a record on Friday with investors seeing the chance to finally move past the presidential election even as the persistent spread of the coronavirus threatens to undercut the outlook for the economy. The state of Georgia was called in the former vice president’s favor on Friday, with Arizona having been added to his column the night before. Mr. Biden had already won the election before those two calls, but they raised his electoral tally to 306 votes, giving him a decisive victory. President Trump’s campaign also lost a court challenge in Michigan, withdrew one in Arizona, and saw some of its lawyers withdraw from a case in Pennsylvania. Put together, those moves gave investors a touch more clarity about what to expect in 2021, giving stocks the push they needed to advance into record territory.

Source: New York Times November 13, 2020 22:30 UTC