Wall Street's main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.
- Wall Street’s main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.
FILE PHOTO: Floor traders work space is seen on the trading floor after the closing bell, following traders testing positive for Coronavirus disease , at the New York Stock Exchange in New York, U.S., March 19, 2020./File Photo Drugmaker Moderna Inc said its experimental COVID-19 vaccine showed promising results in a small early-stage trial, boosting futures in premarket trading. Its own shares jumped 23%.
After surging about 34% from the multi-year low hit in March, the S&P 500 has traded in a tight range this month as easing of coronavirus-led restrictions sparked hopes of an economic recovery even as it raised the risk of another wave of infection. “If there really is a workable vaccine that can be mass produced, it really is a game changer for so many industries about which we weren’t so sure if the reopenings would solve their problems,” said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey.
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