Nasdaq hits record high Monday’s open as stock market buoyed by coronavirus vaccine hope
- 13th July 2020
- Posted by: Hakeem
- Category: Stock
U.S. stocks jumped at the start of trading Monday after the Food and Drug Administration granted “fast track” status to two coronavirus vaccine candidates. The Dow Jones Industrial Average DJIA, 0.73% rose 217 points, 0.8%, to open near 26,292, while the S&P 500 SPX, 0.73% added about 25 points or 0.8%, opening near 3,210. The Nasdaq Composite COMP, 1.41% opened near 10,727, up 110 points or 1% and establishing an intraday record. Shares of Pfizer Inc. PFE, 2.82% and BioNTech BNTX, 9.14% climbed in early action in early action after the companies announced that two of their COVID-19 vaccine candidates had received authorization for accelerated approval from the Food and Drug Administration. Investors have largely looked past a surge in coronavirus cases, especially in the Sun Belt, and the start of what’s expected to be a grim earnings season, which kicks off in earnest Tuesday.