Jorge Bergoglio Elected New Pope (Update 1)

NEW YORK ( TheStreet) - The election of Cardinal Jorge Mario Bergoglio, signaled by the traditional white smoke billowing from a chimney on the roof of the Sistine chapel, followed a two-day conclave involving 115 cardinals.

Last month, in a shock move, Pope Benedict XVI stepped down for health reasons, the first pope to retire in 600 years.

Bergoglio, 76, will take the papal name Francis I. Born in Buenos Aires, Bergoglio is the first Latin American pope.

Bergoglio is apparently already tweeting, using the @Pontifex account. He tweeted "HABEMUS PAPAM FRANCISCUM," which in English, roughly means, "We have Pope Francis".

--Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com

More from Stocks

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain