Wall Street rises, Nasdaq hits record high on economic recovery hopes

The three main US stock indexes have gained more than 10 per cent this month

Wall Street's main indexes rose and the Nasdaq hit a record high on Friday as optimism around an economic rebound next year outweighed concerns around an expected surge in coronavirus infections following the Thanksgiving holiday.

Sentiment was also lifted by President Donald Trump saying he will leave the White House if the Electoral College votes for President-elect Joe Biden, the closest he has come to conceding the Nov. 3 election, market participants said.

"While it was certainly the expectation of the vast majority of traders that there would be an easy transfer of power, at the end of the day it gives