The Dow jumped 200 points after President Trump announced that the U.S. government will purchase 100 million doses of Moderna’s experimental coronavirus vaccine by skleb1234
The Dow Jones Industrial Average was up 0.7%, nearly 200 points, at Wednesday’s open, while the S&P 500 rose 0.9% and the tech-heavy Nasdaq Composite gained 1.5%.purchase 100 million dosesThe deal, worth $1.5 billion, follows similar agreements the government has made with other drug makers for potential coronavirus treatments, such as Pfizer and Johnson & Johnson.that the deal also gives the federal government the option to purchase up to additional 400 million doses.
Shares of companies that would benefit from a vaccine and a reopening of the economy—including airlines, cruise stocks and retailers—jumped on the news Wednesday. Tech stocks were also rebounding on Wednesday, after dragging the market lower in the previous session: Shares of Apple, Microsoft and Facebook were up by more than 1%.“While markets think a fiscal deal will eventually be reached, this isn’t a critical, make-or-break catalyst for stocks ,” says Vital Knowledge founder Adam Crisafulli.
on Monday that the White House is open to resuming coronavirus relief talks with Democrats and is willing to provide more relief money in order to make a compromise.
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