Stocks are climbing higher ahead of a second day of testimony by the Fed chairman. Nike rose more than 10% after it reported soaring online sales of its sneakers and workout.
Johnson & Johnson rose 1.5% as itto try to prove if a single dose COVID-19 vaccine can protect against the virus. A handful of other vaccines are already in final-stage study, and investors increasingly expect one to be available within the first three months of 2021. The hope is that it can help the economy get close to normal again and allow strong growth to resume.
Several were weakening again on Wednesday, with Amazon down 1.2% and Microsoft down 0.6%. Apple was swinging between small gains and losses. Part of this week’s early stumble for stocks was due to worries about European governments imposing tougher restrictions on businesses to slow the spread of the coronavirus, which hurt travel-related companies in particular. But analysts said the U.K. orders announced Tuesday weren’t as extreme as some investors had feared.
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