Global Stocks Rise As Trump Authorizes Transition

On Tuesday, global stocks jumped after Donald Trump authorized President-elect Joe Biden's presidential transition process to begin.

On Monday, Trump took a significant step toward acknowledging the election result.

However, Business Insider reports, he is still convinced he and his allies can continue to contest the outcome.

Another key factor driving the boost is Biden's planned nomination for former Federal Reserve chair Janet Yellen as Treasury Secretary.

AstraZeneca's vaccine is helping drive oil prices to their highest levels since March.