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The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday.The crest came as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.Traders were also encouraged by news that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary.The Dow rose more than 400 points, or 1.4%, to trade just over 30,000 midday Tuesday. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.3%.Shortly after the Dow crested, President Donald Trump delivered remarks at the White House, congratulating his administration and the people of the U.S.“The stock market has just broken 30,000, never been broken, that number, that’s a sacred number, 30,000. Nobody thought they’d ever see it,” said Trump. “That’s the 9th time since the beginning of 2020 and it’s the 48th time that we’ve broken records during the Trump administration. And I just want to congratulate all the people within the administration that work so hard. And most importantly, I want to congratulate the people of our country, because there are no people like you.”Like others, Trump attributed the success of the stock market to the promising news that multiple vaccines are proving to be effective and headed for FDA approval.“Despite everything that’s taken place with the pandemic, I’m very thrilled with what’s happened on the vaccine front,” said Trump. “That’s been absolutely incredible. Nothing like that has ever happened medically and I think people are acknowledging that and it’s having a big effect.”Trump, who often speaks for long periods of time and has sparred with the media in the past, kept Tuesday’s remarks short and didn’t take questions as reporters asked him why he hasn’t conceded to Biden for the good of the country.Watch the president’s remarks below: 1979

The city of Albuquerque, New Mexico, is answering calls to "defund the police" by creating a new public safety department that will send unarmed social workers instead of police officers in response to some 911 calls.On Monday, Albuquerque Mayor Tim Keller (D) said his administration would form a new city department, Albuquerque Community Safety, whose personnel would respond to some emergency calls.Albuquerque Community Safety officials will respond to calls of inebriation, homelessness, addiction and mental health. According to Keller's office, the department will be made up of social workers, housing and homelessness specialists, violence prevention and diversion program experts.Officials hope the new department will keep such calls from escalating into violence and will allow police officers to re-focus their efforts to combating and investigating violent crime."We want to send the right resource to the right call," Keller said in a statement. "Especially where a social worker or trained professional can connect people with the services they need, instead of simply taking folks to jail or the hospital, which have been the only choices until now."According to The Washington Post, experts believe that the Albuquerque Community Safety department may be the first of its kind. Though calls to defund police departments have strengthened following the death of George Floyd in May, Keller says the city has been working for two years on to change the way Albuquerque handles some emergency calls.Activists who are calling for cities to defund police departments say that money would be better spent on community outreach. They also say that sending armed police into some emergency situations can escalate situations and lead to violence, especially against racial minorities and people of color.In recent weeks, thousands of protesters have taken to the streets in dozens of major cities, calling for an end to police brutality and systemic racism following the death of George Floyd in Minneapolis.Floyd died in police custody after allegedly using a counterfeit bill to buy tobacco while intoxicated. After handcuffing Floyd, bystander video shows a police officer, later identified as Derek Chauvin, kneeling on Floyd's neck for more than eight minutes. Chauvin has been charged with second-degree murder, and three other officers face charges in connection with Floyd's death. 2412

The Charlotte area is getting inundated with rain. You can see a car submerged along Freedom Drive. @FOX46News pic.twitter.com/TNwIL2MAT8— Derek Miloff (@Dmiloff) November 12, 2020 188

The first snowflakes flew into the lower 48 this week.A big winter storm blew through the higher elevations of western Montana and northern Idaho earlier this week, and now, a few of those snowflakes may fall in parts of western Wyoming and in the mountains of Utah and Colorado. 287

The Department of Labor reported Thursday that 1.5 million Americans filed initial claims for unemployment during the week ending June 6, bringing a three-month total to about 43 million.Thursday's report marked the tenth straight week of declining unemployment numbers, as every state has begun the process of lifting coronavirus-related lockdowns.The report also comes a week after the U.S. Bureau of Labor Statistics said the U.S. unemployment rate actually fell a full percentage point — an encouraging sign for the economy.But despite last week's report, weekly unemployment claims remain historically high.Prior to the pandemic, the record high for weekly unemployment claims came in 2006, when 665,000 people filed for unemployment. The Department of Labor has been tracking the statistics since 1967.Economists often use weekly unemployment claims as a reliable tool when predicting unemployment. However, some surveys indicate that weekly initial claims may be underestimating the amount of those unemployed.At least one survey from the Economic Policy Institute found that millions of Americans gave up trying to seek benefits or didn't even attempt to due to states' overwhelmed and antiquated unemployment systems.Despite the staggering unemployment figures, the stock market has been on a steady rise since reaching a four-year low in March. Markets have been buoyed by stimulus from both the Federal Reserve and Congress, as well as encouraging reports from health experts regarding the potential development of a COVID-19 vaccine. 1553